Get the latest tech news
Drone manufacturer Skydio raises $170 million extension round
American drone manufacturer Skydio has raised an extension round of $170 million, adding onto the $230 million Series E it closed early last year.
Skydio also reported a 38.1 percent gross margin in 2023, “driven by favorable mix shift towards software revenue and economies of scale in production costs,” according to the deck. Even with the massive extension round and landing law enforcement contracts, Skydio, like many hardware startups, is set to spend lots of capital quickly. Janmaat told TechCrunch that Linse has encouraged Skydio to “be aggressive,” and burn through more capital by adding more products faster, given the lack of competition in North America.
Or read this on TechCrunch
