Reliable Robotics has been working for nearly a decade to commercialize autonomous flying technology that can be installed on existing aircraft. The $115 million funding boost includes $90 million in equity led by Nimble Partners and $25 million in debt from Silicon Valley Bank. The Series D round now totals $275 million, and the company has raised $380 million to date. Other investors include Gideon Strategic Partners, RockCreek, Geek Ventures, Gold Hill Capital and Sparkwave Capital.
CEO and co-founder Robert Rose, a former director of flight software at SpaceX who also worked at Tesla and Google, described the certification process as lengthy but advancing. "We continue to make steady progress and deliver evidence to the FAA and every day, we inch closer and closer," Rose said. Co-founder and CTO Juerg Frefel is also a SpaceX veteran with nearly a decade at the company.
The startup is pursuing FAA certification on four fronts. Its first product, continuous autopilot engagement, handles engine startup, taxiing, takeoff and landing while a pilot remains in the aircraft and interacts with the system through a touchscreen. Rose expects certification for this critical first system in 18 to 24 months. The second certification, at least three years away, would remove the pilot from the cockpit to a ground-control station.
Reliable is also working toward certification of a collision-avoidance radar developed in-house after legacy suppliers declined to take on the project. The solid-state radar has no moving parts, scans at longer range and higher resolution than conventional systems, and costs less to maintain, according to Rose. He expects certification by the end of 2027. The final certification is for Reliable Airlines, a cargo airline based in Albuquerque that operates six Cessna Caravans flying six days a week.
Nimble Partners founder John Burbank said the opportunity extends beyond a single aircraft. "It's a much bigger effort and much bigger opportunity than to just build one plane," Burbank said, noting the system could be adopted by any airframe. "Once they get the first one approved, then everyone will realize this is going to be the path for the industry, just as we're seeing the path for the auto industry being autonomous."