Reliable Robotics raises $115 million as valuation exceeds $1 billion

Reliable Robotics has secured a $115 million extension to its Series D financing, taking its valuation above $1 billion as it seeks Federal Aviation Administration certification for technology designed to automate existing aircraft.

The extension comprises $90 million in equity led by Nimble Partners, plus $25 million in debt provided by Silicon Valley Bank. The Series D now stands at $275 million, while the Mountain View, California-based company has raised $380 million to date.

Reliable is pursuing four related certifications. Its initial product, continuous autopilot engagement, automates engine startup, taxiing, takeoff and landing while a pilot stays aboard and uses a touchscreen to interact with the system. Robert Rose, Reliable’s CEO and co-founder, expects approval in 18 to 24 months.

A separate approval would allow the pilot to operate from a ground-control station rather than the cockpit. Rose said that certification remains at least three years away.

The company also developed its own collision-avoidance radar after failing to persuade established suppliers to undertake the project. Rose said the solid-state design has no moving parts and offers greater range and resolution than conventional radar, with lower costs and easier maintenance. He expects certification by the end of 2027.

The fourth certification concerns Reliable Airlines, its Albuquerque-based cargo operation. The airline flies six Cessna Caravans six days a week and is intended to become the first airline certified to use Reliable’s autonomous flight technology. Airline operations require FAA approval separately from equipment certification.