“…Reliable Robotics, a supplier of automated aircraft systems, has announced a $100 million Series C funding round led by Coatue Management. Coatue joins past investors Lightspeed Venture Partners, Eclipse Ventures, Teamworthy Ventures and Pathbreaker Ventures to bring total fundraising over $133 million.
With its innovative airframe independent technology, Reliable’s Remotely Operated Aircraft System is designed to expand safe, flexible and efficient air transportation service to more locations. The capital raised enables the company to scale its team to support its first aircraft certification program and expedite the launch of commercial cargo operations.
“We believe Reliable Robotics is a leader in aircraft automation for commercial aviation,” said Jaimin Rangwalla, a Senior Managing Director at Coatue. “We were impressed by the team’s clear vision, measured certification progress and track record of industry achievement. We are proud and excited to support Reliable’s goal to be the first to deliver FAA-certified, remotely piloted systems to market.”
Reliable Robotics is positioned to unlock access to thousands of underutilized regional and municipal airports in all corners of the country, greatly expanding air transportation options for cargo and eventually passengers. The company’s technology handles all phases of flight including taxi, takeoff, landing and parking, while licensed pilots remotely supervise each flight from a control center. The system has the capability to autoland on smaller airstrips in rural or remote areas without requiring expensive infrastructure to be installed and maintained.
“Automated aircraft present a massive opportunity to transform the cargo industry over the next several years,” said Jeff Drees, former Co-owner and Chief Commercial Officer of Ameriflight, the largest regional air cargo carrier in the world. “Remotely piloted cargo delivery provides a huge advantage with low cost, anytime, anywhere flights that increase aircraft utilization and availability.”
Drees recently joined Reliable Robotics to build its airline subsidiary and deliver cargo services while preparing for the adoption and scaling of remotely operated aircraft…”