The round was led by Boston-based firms Fidelity Management and Research Co. and Monashee Investment Management, with participation from a host of other venture capital firms, angel investors and undisclosed contributors, the company said in its announcement on Oct. 27. The investment brings Skyryse’s total funding to more than $240 million.
The company plans to use the funding to accelerate the development of FlightOS, its flight automation system which it claims can be integrated into any aircraft.
“General aviation hasn't improved its technology in decades,” Rob Broggi, portfolio manager at Monashee, said in a statement. “Technology has the potential to not just make flight safer, but to radically change our transportation system. Skyryse is building this future, and their incredible team is leading us into a new era of mobility.”
Along with the raise, the company announced partnerships with five fixed-wing and rotorcraft equipment manufacturers, one of which is Torrance-based Robinson Helicopter Co. According to Skyryse, the five manufacturers collectively produce over half of new general aviation aircraft globally.
Skyryse also announced the hiring of two new advisors: Michael Huerta, the former head of the Federal Aviation Administration, and Chris Hart, former chairman of the National Transportation Safety Board, to help with its FAA certification process.
“This is a breakthrough that the aviation industry has been waiting for to make air transportation accessible to everyone at safety levels that were previously attainable only on commercial airlines,” Hart said in a statement.
Founded in 2016 by Mark Groden, the company’s chief executive, and Mitch Adler, who left the company in 2019, Skyryse is developing technology that replaces the traditional controls in an aircraft cockpit with touchscreen tablets and a joystick. The company claims FlightOS safely “removes nearly all of the complexities of flying” and can manage an aircraft through emergencies.
Skyryse’s goal is to make aviation accessible by making it safer and less complex for the amateur pilot to fly, the company said.
“We're on a mission to empower anyone to fly anywhere in any aircraft as safely as the most experienced pilots in the world,” Groden said in a statement. “Our technology will usher in a new era of mobility, from fighting fires in remote areas to relieving traffic in crowded cities.”
