Reliable Robotics adds $115M to its Series D as it waits on FAA approval

Reliable Robotics said on Oct 20 that it had added $115 million to its Series D, lifting the round to $275 million and its valuation above $1 billion. The addition is a blend: $90 million in equity led by returning investor Nimble Partners, plus a $25 million term loan from Silicon Valley Bank. It extends the $160 million round announced on Apr 21, and brings the Mountain View company to more than $380 million in equity raised.

Most of the money is buying time against a certification schedule, which is the actual product. Reliable's first system is continuous autopilot engagement: it handles engine start, taxiing, take-off and landing while the pilot stays in the cockpit and works through a touchscreen. CEO Robert Rose told TechCrunch he expects approval in 18 to 24 months, putting it between April and October 2028. Moving the pilot to a ground-control station is at least three years further out. An in-house solid-state radar, built after established suppliers declined the project, is targeted for certification by the end of 2027.

Certification is the moat Nimble says it is buying

Nimble Partners founder John Burbank told TechCrunch the long approval process is part of the draw, because Reliable is building a system any airframe could adopt rather than one aircraft. Reliable is certifying on the Cessna 208B Grand Caravan and says the FAA has accepted its certification plan and its method for proving compliance. The company says its system needs no changes to the US National Airspace System to fly commercially.

It can fly before it is certified

Reliable is not waiting empty-handed. It holds contracts with several US military branches and has completed airworthiness reviews with the Air Force, and it was selected for the FAA's Advanced Air Mobility Integration Pilot Program, which lets it fly pre-certification cargo to small and rural communities in New Mexico and Colorado. In April it said it had commitments for more than 200 systems from commercial and military customers. The October release gave no revenue figure. Rivals are financing differently: Merlin listed on Nasdaq through a SPAC in March, and Elroy Air is building its own heavy-cargo aircraft.

The open question is whether roughly $380 million in equity is enough runway to reach approvals that remain two years and a radar certification away.