Reliable Robotics raises $115 million, pushing its valuation past $1 billion

Reliable Robotics has raised a $115 million extension of its Series D round, comprising $90 million in equity led by Nimble Partners and $25 million in debt from Silicon Valley Bank, TechCrunch reports. The extension takes the Series D to $275 million, pushes the Mountain View startup's valuation past $1 billion and brings total funding to $380 million; other investors include Gideon Strategic Partners, RockCreek, Geek Ventures and Gold Hill Capital. Co-founded by CEO Robert Rose and CTO Juerg Frefel, both SpaceX veterans, the company is pursuing FAA certification on four linked fronts: a continuous autopilot engagement system that handles engine start, taxi, takeoff and landing, which Rose expects to be certified in 18 to 24 months; remotely piloted flight from a ground-control station, at least three years away; an in-house solid-state collision-avoidance radar expected to be certified by the end of 2027; and its own cargo airline, which already flies six Cessna Caravans out of Albuquerque six days a week.

DTT summary based on TechCrunch's report. The full article is on the publisher's site.