The developer of automated aircraft systems Reliable Robotics announced a $100 million Series C funding round led by Coatue Management to support its first aircraft certification program and expedite the launch of commercial cargo operations.
The company is headquartered in Mountain View, CA and has a distributed global workforce.
Coatue joins past investors Lightspeed Venture Partners, Eclipse Ventures, Teamworthy Ventures and Pathbreaker Ventures to bring total fundraising over $133 million. With its airframe independent technology, Reliable’s remotely operated aircraft system is designed to expand safe, flexible and efficient air transportation service to more locations.
Jaimin Rangwalla, a senior managing director at Coatue, said, “We believe Reliable Robotics is a leader in aircraft automation for commercial aviation. We were impressed by the team's clear vision, measured certification progress and track record of industry achievement. We are proud and excited to support Reliable’s goal to be the first to deliver FAA-certified, remotely piloted systems to market.”
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