The key facts

  • Reliable Robotics raised $115 million ($90 million equity from Nimble Partners, $25 million debt from Silicon Valley Bank), valuation exceeded $1 billion, total Series D — $275 million, total raised $380 million
  • The company is certifying four products with the FAA: continuous autopilot (18–24 months), remote piloting from the ground (at least three years), a solid-state collision-avoidance radar (by the end of 2027), and the airline Reliable Airlines
  • The founders are SpaceX alumni: CEO Robert Rose and CTO Juerg Frefel

Round and valuation

Reliable Robotics, a startup from Mountain View, California, raised $115 million as an extension of its Series D round. The financing includes $90 million in equity led by Nimble Partners and $25 million in debt from Silicon Valley Bank. Other investors include Gideon Strategic Partners, RockCreek, Geek Ventures, Gold Hill Capital, and Sparkwave Capital. The Series D round has reached $275 million in total, the company's valuation exceeded $1 billion, and the startup has raised $380 million in total since its founding.

Company and founders

Reliable Robotics has spent nearly ten years working on commercializing autonomous flight technology that is installed on existing aircraft. Co-founder and CEO Robert Rose previously was director of flight software at SpaceX and worked at Tesla and Google. Co-founder and CTO Juerg Frefel worked as an engineer at SpaceX for nearly ten years. “We continue to make steady progress and provide the FAA with evidence, and every day we get closer to the goal,” Rose said.

Four certification tracks

The company is pursuing FAA certification in four areas related to autonomous flight. The first product is continuous autopilot engagement: the system performs engine start, taxiing, takeoff, and landing, while the pilot remains on board and interacts with the system via a touchscreen. Rose expects certification of this system within 18–24 months. The second certification, he said, is at least three years away: it will allow the pilot to be removed from the cockpit and relocated to a ground control station.

Radar and airline

The third area is a collision-avoidance radar, developed in-house after traditional suppliers abandoned the project. Unlike conventional radars with a moving antenna, Reliable created a solid-state radar with no moving parts, which, according to Rose, scans airspace at greater range and with higher resolution, is easier to maintain, and is cheaper. He noted interest from operators “given recent collisions in commercial aviation” and added that the radar also works on the ground. Certification is expected by the end of 2027. The fourth area is certification of the airline Reliable Airlines, headquartered in Albuquerque, which carries cargo six days a week on six Cessna Caravans: the FAA certifies not only the equipment but also the airline's operations under a separate set of rules.

Investor's view

Nimble Partners founder Jon Burbank called the company's efforts and capabilities far larger than building a single aircraft: Reliable is building a system that any airframe can adopt. “They had a really big vision nine years ago. Once the first product is approved, everyone will realize this is the path for the industry — just as we see the auto industry's path to autonomy,” he said.