Self-Flying Drone Startup Skydio Hits $1 Billion Valuation After $170 Million Raise

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It comes after a $170 million Series D round led by Andreessen Horowitz, taking the company’s total funding to $340 million.

Based in Redwood City, California, Skydio has built its reputation as both the leader in autonomous flight with its small $999 drones as well as an alternative to the $15 billion valued industry lead DJI. It’s selling not just to consumers, but infrastructure companies, the military, search and rescue, and the police too. Amongst its publicly-known customers are the U.S.

“Autonomy is the key for drones to reach scale, and Skydio has established themselves as the defining company in this category. We’re excited to continue to invest in this magical combination of breakthrough technology, rapid growth, and an incredible team in a market that’s going through an inflection point,” said David Ulevitch, general partner at Andreessen Horowitz.

As federal government customers, some local police departments and other businesses move away from DJI due to fears over its Chinese origins, Skydio is swooping in to fill the coming void. DJI denies it provides users videos or other content to the Chinese government. In December, DJI was put on the Commerce Department’s entity list banning U.S. companies shipping tech to the Chinese business, over claims it assisted in surveillance of Uyghur communities in the Xinjiang province.

 

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