Reliable Robotics Secures $115 Million Funding, Achieves Over $1 Billion Valuation

Reliable Robotics has secured $115 million in funding, extending its Series D round, which now totals $275 million. This funding includes $90 million in equity led by Nimble Partners and $25 million in debt from Silicon Valley Bank. The Mountain View, California-based startup’s valuation has surpassed $1 billion.

Founded nearly a decade ago, Reliable Robotics is focused on commercializing autonomous flying technology that can be integrated into existing aircraft. Co-founder and CEO Robert Rose stated that the company is making progress toward certification by the Federal Aviation Administration (FAA), a crucial milestone for its autonomous flight system.

Rose, a former director of flight software at SpaceX, emphasized that the company is steadily delivering evidence to the FAA as it works toward certification. Reliable’s co-founder and CTO Juerg Frefel also has a background at SpaceX, where he spent nearly ten years as an engineer.

Reliable Robotics is pursuing FAA certification on four fronts, all aimed at achieving autonomous flight. Its first product, continuous autopilot engagement, automates engine startup, taxiing, takeoff, and landing, with the pilot remaining in the aircraft and interacting with the system via a touchscreen. Rose anticipates certification for this system within 18 to 24 months.

The second certification, which Rose estimates will take at least three years, involves removing the pilot from the cockpit and relocating them to a ground-control station.

Additionally, Reliable is developing a collision-avoidance radar system, which it has created in-house after failing to attract legacy suppliers. Unlike traditional radar systems that use moving antennas, Reliable’s solid-state radar has no moving parts, allowing for longer-range and higher-resolution scanning. Rose noted that this system is easier to maintain and less expensive.

Rose highlighted the importance of this radar technology, especially in light of recent collisions in commercial aviation. The radar will also function on the ground to prevent collisions with other aircraft and infrastructure, with certification expected by the end of 2027.

The final certification will be for Reliable Airlines, which aims to be the first airline certified to utilize the autonomous flying technology. Based in Albuquerque, Reliable Airlines will operate six Cessna Caravans for cargo flights six days a week. The FAA must certify both the equipment and the airline operations under separate regulations.

Nimble Partners founder John Burbank remarked on the significance of Reliable’s efforts, stating that the company is building a system applicable to any airframe, which represents a larger opportunity than simply constructing one aircraft. He believes that once the first system is approved, it will pave the way for broader adoption in the aviation industry.

Source: TechCrunch