Skydio's funding surge reflects the booming defense tech sector, with a total of over $9.1 billion raised in just the first half of 2024.
Investors like KDDI and Axon highlight Skydio's strategic importance, with KDDI planning to expand drone use across Japan, enhancing LTE connectivity.
Linse Capital's Bastiaan Janmaat noted Skydio's valuation doubled, making the $170 million extension round compelling as their initial proposal was for a larger Series F.
Skydio's efforts to diversify revenue streams are exemplified by its over $100 million in 2023 revenue, with 30% from software and increasing gross margins.
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