Siemens’ Next47 subsidiary has returned to back the unmanned aerial vehicle technology producer’s latest round, valuing it above $1bn.

US-based autonomous drone technology developer Skydio has secured $170m in series D funding from investors including industrial equipment and appliance producer Siemens at a $1bn-plus valuation, TechCrunch reported today.

Venture capital firm Andreessen Horowitz (A16Z)’s Growth Fund led the round, which also featured IVP, Lines Capital and Up.Partners, while Siemens took part through its Next47 vehicle. The company’s funding has now reached $340m since it was founded in 2014.

Skydio produces unmanned aerial vehicles with artificial intelligence and computer vision-equipped…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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