Reliable Robotics raises $115 million at a valuation above $1 billion for an autopilot that takes off and lands ordinary aircraft by itself
Prepared by Sintelligent with the help of SI. Published in SI: . Updated: .
Self-flying aircraft are still at the certification stage, with a pilot on board.
According to The Next Web, the new capital is $90 million in equity and $25 million in debt (a Silicon Valley Bank loan); together with the April announcement, the Series D round totals $275 million, led by Nimble Partners. The Reliable Autonomy system automates engine start, taxiing, takeoff and landing on existing aircraft; the company says it holds the only FAA-accepted certification plan for continuous autopilot engagement. Certification is currently under way on the Cessna 208B Grand Caravan with a pilot on board - CEO Robert Rose expects it in 18-24 months, and pilotless flights, in his words, are at least three years away. The cargo airline Reliable Airlines flies six Caravans out of Albuquerque six days a week.
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