Skyryse secures $200 million in Series B funding to revolutionize aviation automation
Aug 5, 2024
Skyryse, a cutting-edge aviation technology company based in El Segundo, California, has recently announced a significant milestone in its journey to transform the future of flight. The company has secured $200 million in a Series B funding round, bringing its total funding to an impressive $250 million to date. This latest round was led by Fidelity Management & Research Company, with participation from Monashee Investment Management, ArrowMark Partners, and Angeles Equity Partners, signaling strong investor confidence in Skyryse's vision.
Skyryse was founded in 2017 by Dr. Mark Groden, who currently serves as the company’s CEO. Groden, an aerospace engineer with a deep passion for making aviation more accessible and safer, co-founded the company with a mission to develop technology that can bring the benefits of flight to more people by simplifying and automating the complexities of piloting aircraft.
With this new influx of capital, Skyryse plans to accelerate the development and deployment of FlightOS, expand its team, and explore new partnerships within the aviation industry. The company is also focused on advancing its certification processes and integrating its technology into a broader range of aircraft.
Skyryse’s innovative approach has already attracted a strong following within the aviation sector. The company’s technology is expected to play a crucial role in the growing urban air mobility (UAM) market, which aims to make air travel more accessible and efficient within cities.
In a statement, Dr. Mark Groden said, "We are on a mission to democratize flight by creating the most advanced, safest, and easiest-to-use aviation automation systems in the world. This latest round of funding will help us take significant steps towards realizing that vision and bringing the benefits of flight to more people than ever before."
Skyryse’s vision is supported not only by its investors but also by industry leaders who believe in the transformative potential of its technology. With the global aviation market projected to reach $372.5 billion by 2030, Skyryse is well-positioned to lead the charge in reshaping how the world thinks about and experiences flight.
Skyryse’s innovative approach has already attracted a strong following within the aviation sector. The company’s technology is expected to play a crucial role in the growing urban air mobility (UAM) market, which aims to make air travel more accessible and efficient within cities.
In a statement, Dr. Mark Groden said, "We are on a mission to democratize flight by creating the most advanced, safest, and easiest-to-use aviation automation systems in the world. This latest round of funding will help us take significant steps towards realizing that vision and bringing the benefits of flight to more people than ever before."
Skyryse’s vision is supported not only by its investors but also by industry leaders who believe in the transformative potential of its technology. With the global aviation market projected to reach $372.5 billion by 2030, Skyryse is well-positioned to lead the charge in reshaping how the world thinks about and experiences flight.
The company's flagship product, FlightOS, is a highly advanced automation platform designed to reduce pilot workload and significantly enhance flight safety. By automating critical aspects of flight operations, FlightOS allows pilots of all skill levels to operate aircraft with greater ease and confidence. This technology is seen as a game-changer in the aviation industry, which has long been dominated by legacy systems that require extensive training and leave little room for error.
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