Startups & Funding
Aviation startup Skyryse hits $1.15 billion valuation in Series C
Skyryse raised more than $300 million in Series C funding, reaching a $1.15 billion valuation as it nears the end of a lengthy FAA certification process.
Skyryse, an aviation automation startup based in El Segundo, California, has raised more than $300 million in a Series C investment. The late-stage funding round, which was announced on Tuesday, was led by Autopilot Ventures. This investment pushes the company’s valuation to $1.15 billion, placing it into unicorn territory—a term used to describe a startup valued at over $1 billion. Since the startup was founded in 2016, it has raised more than $605 million in total equity capital to date.
The newly secured capital will be used to integrate the company’s flight control operating system, known as SkyOS, across numerous aircraft and to support its regulatory certification process. Other investors participating in this late-stage funding round include:
- Fidelity Management & Research Company
- ArrowMark Partners
- Atreides Management LP
- BAM Elevate
- Baron Capital Group
- Durable Capital Partners
- Positive Sum
- Qatar Investment Authority
- RCM Private Markets Fund
- Woodline Partners
The SkyOS system is designed to automate the more complicated and dangerous aspects of flying. It is not a fully autonomous system, as a pilot must still handle operations. Instead, the technology is designed to automate the trickiest aspects of flight, enhance the skills of pilots, and improve safety. Skyryse initially built and tested its system on helicopters, which are one of the most unstable aircraft to operate. The initial operating system, known as Skyryse One, automates takeoff and landing, and fully automates hover and engine-out emergency landings—a flight emergency condition where an engine fails.
Skyryse is currently nearing the end of a lengthy certification process with the Federal Aviation Administration (FAA), the U.S. aviation regulator. Last year, the FAA granted final design approval for the company’s SkyOS flight control computers. To achieve full certification, Skyryse must now complete formal flight testing and verification. Meanwhile, the company is integrating its operating system across numerous aircraft, including U.S. military Black Hawk helicopters. It has also secured contracts to integrate SkyOS with partners including United Rotorcraft, Air Methods, and Mitsubishi Corporation.
Why it matters
The funding validates Skyryse’s approach to simplifying flight operations, moving the company closer to commercializing its automation technology despite the rigorous regulatory hurdles inherent in aviation.