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Skyryse Secures $300M Series C Funding, Valuation Exceeds $1 Billion
Skyryse, a developer of aviation automation software, has secured $300 million in Skyryse Series C funding. This significant capital raise pushes the company’s valuation beyond $1 billion. The investment aims to accelerate Federal Aviation Administration (FAA) certification and advance its operating system (SkyOS) development.
What Happened
The company announced a $300 million Series C capital raise, bolstering its financial position. The funding round was led by Autopilot Ventures and returning investor Fidelity Management & Research Company. This substantial infusion of tech venture capital highlights continued interest in aerospace startup funding.
Additional participants included ArrowMark Partners, Atreides Management LP, BAM Elevate, Baron Capital Group, Inc., Durable Capital Partners, Positive Sum, Qatar Investment Authority, RCM Private Markets Fund managed by Rokos Capital Management (US) LP, and Woodline Partners.
Details From Sources
The newly acquired capital will directly support Skyryse’s efforts to obtain a crucial Federal Aviation Administration flight certification. Additionally, the funding will fuel the ongoing development of its proprietary operating system, known as SkyOS. This information was reported by Washington Technology, emphasizing progress in flight control systems and SkyOS development.
Why This Matters
This funding is crucial for Skyryse as it pursues FAA flight certification for its innovative technology. Advancing the SkyOS operating system is also a primary objective. These steps are significant for enhancing overall aviation automation and simplifying flight operations.
Background Context
Skyryse began its operations in 2016, focusing on aviation automation software. Within its first year, the company successfully developed a prototype of its flagship SkyOS system. This flight control system was later deployed on a helicopter used by law enforcement in Tracy, California.
SkyOS has also been implemented on an Army Black Hawk helicopter. The company highlights this Black Hawk use case due to these vehicles’ instability compared to fixed-wing aircraft. Skyryse designed its OS to replace traditional mechanical flight controls with an integrated system, aiming to help pilots simplify aircraft management.
Future Implications (SPECULATIVE)
Skyryse’s stated future goals involve continued development of its operating system and pursuit of Federal Aviation Administration flight certification. These objectives are central to the company’s strategic vision. The capital infusion is expected to directly support these key initiatives.
Conclusion
The recent Skyryse Series C funding round, totaling $300 million, has elevated the company’s valuation past $1 billion. This capital is strategically important for Skyryse’s mission. It will support advancements in aviation automation and flight control system development, including crucial FAA certification efforts.
Frequently Asked Questions
Q1: What is the total amount of Skyryse Series C funding?
A1: Skyryse has collected $300 million in Series C capital.
Q2: What is Skyryse’s valuation after this funding round?
A2: With this raise, Skyryse’s valuation exceeds $1 billion.
Q3: Who were the lead investors in Skyryse’s Series C round?
A3: Autopilot Ventures and Fidelity Management & Research Company led the Series C round.
Q4: What is the primary purpose of the capital raised by Skyryse?
A4: The capital will aid Skyryse’s pursuit of a Federal Aviation Administration flight certification and continue the development of its operating system (SkyOS).
Q5: What is SkyOS and how does it function?
A5: SkyOS is an operating system developed by Skyryse that replaces mechanical flight controls with an integrated system designed to help pilots simplify aircraft management.
