Skyryse, an innovative aviation automation company based in El Segundo, California, has successfully raised over $300 million in a Series C funding round, elevating its valuation to $1.15 billion and marking its entry into the unicorn club.
This funding round, announced on Tuesday and spearheaded by Autopilot Ventures, serves as a significant boost for the startup as it approaches the conclusion of a comprehensive certification process with the Federal Aviation Administration (FAA) for its flight control technology. The newly acquired capital will also facilitate the integration of its operating system, known as SkyOS, across a range of aircraft, including the U.S. military's Black Hawk helicopters.
Participating investors in this funding round include notable firms such as Fidelity Management & Research Company, ArrowMark Partners, Atreides Management LP, and Qatar Investment Authority, among others. Since its inception in 2016, Skyryse has successfully raised over $605 million in equity capital.
The company has garnered attention from investors as well as various sectors including the U.S. military, emergency medical services, law enforcement, and private operators for its user-friendly flight system. Skyryse has streamlined the traditional mechanical flight controls by replacing numerous gauges and switches with a sophisticated system comprising several flight computers that automate complex and risky flying tasks.
While the system does not fully automate flight, it significantly eases the pilot's workload by managing the more challenging aspects of flying, thereby enhancing pilot skills and safety.
The simplicity of operation--akin to a swipe on a touchscreen--has attracted partnerships with companies such as United Rotorcraft, Air Methods, and Mitsubishi Corporation, all of which are integrating SkyOS into various helicopters and airplanes.
Skyryse began its journey by developing and testing its system on helicopters, which are notoriously difficult to operate. However, the vision is to adapt SkyOS for any type of aircraft. The initial version, Skyryse One, automates critical phases like takeoff, landing, and emergency landings when the engine fails. The company has already implemented this operating system in Black Hawk helicopters.
Recently, Skyryse has made strides in its FAA certification journey, having received final design approval for its SkyOS flight control computers. The next steps involve completing formal flight tests and verifications to secure full certification.
