Skyryse, an aviation automation startup based in El Segundo, California, has raised more than $300 million in a Series C investment. This funding round pushes the company’s valuation to $1.15 billion, placing it firmly into unicorn territory. Announced on Tuesday and led by Autopilot Ventures, the investment provides a significant boost as Skyryse nears the end of a lengthy Federal Aviation Administration certification process for its flight control system. The capital will also be used to integrate its operating system, known as SkyOS, across numerous aircraft, including U.S. military Black Hawk helicopters.
Other investors in this 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 managed by Rokos Capital Management, and Woodline Partners. Founded in 2016, the startup has now raised more than $605 million in equity capital.
Skyryse has gained traction with investors as well as key operators like the U.S. military, emergency medical services, law enforcement, and private operators. The appeal lies in its simplified flight system. The startup has removed dozens of traditional mechanical flight controls, such as gauges and switches, replacing them with a system of flight computers that automate the more complicated and dangerous aspects of flying.
This is not a fully autonomous system; a pilot is still required to handle operations. However, it is designed to automate the trickiest aspects of flight, enhance pilot skills, and improve overall safety. This simplicity and ease of operation, which can involve a simple swipe on a touchscreen, has won over companies like United Rotorcraft, Air Methods, and Mitsubishi Corporation. These firms have contracts with Skyryse to integrate SkyOS on a variety of helicopters and airplanes.
Skyryse began building and testing its system on helicopters, which are among the most unstable aircraft to operate. The vision is that SkyOS can be applied to any aircraft. The initial operating system, known as Skyryse One, automates takeoff and landing and fully automates hover and engine-out emergency landings. The company has since integrated the operating system on Black Hawk helicopters.
Skyryse has made steady progress on its certification process with the Federal Aviation Administration. Last year, the FAA granted final design approval for the company’s SkyOS flight control computers. The remaining step is to complete formal flight testing and verification to achieve full certification.