American drone manufacturer Skydio has raised an extension round of $170 million, adding onto the $230 million Series E it closed early last year.

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Skydio, an American drone manufacturer, has raised an additional $170 million in its Series E extension round, bringing in strategic investors like KDDI and Axon. This follows a $230 million Series E round earlier. Skydio's focus has shifted to enterprise and public safety sectors, moving away from consumer drones. They reported over $100 million in annual revenue last year, with 30% from software. Defense customers make up over 50% of their $1.2 billion in bookings. Despite the new funding, Skydio is projected to spend significantly to stay competitive, especially in the North American market.

Drone manufacturer Skydio raises $170 million extension round