Skydio Raises $100 Million, Launches X2 Drone Family for Defense and Government Markets

Skydio, the American autonomous drone manufacturer, announced on July 13, 2020 that it had raised $100 million in a Series C round led by Next47, Siemens' investment arm, alongside Levitate Capital and NTT DOCOMO Ventures. The round, which also included existing investors Andreessen Horowitz, IVP and Playground Global, brings the company's total funding to $170 million and coincides with the launch of its new enterprise drone family, the X2.

Why did the funding round land right alongside a product launch?

Skydio chose to announce the funding round on the same day it unveiled the X2 family, a move that signals a clear strategy: this isn't generic fundraising, but a direct fuel injection for sales of a concrete product. The company says the money will go toward accelerating product development and expanding marketing and sales efforts across three core markets it serves.

• Funding amount: $100 million, Series C round
• Lead investor: Next47, Siemens' investment arm
• New investors joining: Levitate Capital, NTT DOCOMO Ventures
• Existing investors participating: Andreessen Horowitz, IVP, Playground Global
• Skydio's cumulative funding to date: $170 million
• Stated target markets: Consumer, Enterprise, and Public Sector

Is the X2 America's answer to DJI?

The X2 launch isn't happening in a vacuum. Throughout 2020, restrictions on Chinese-made drone purchases by federal and state agencies in the United States have been tightening, driven by data security concerns surrounding Chinese drone manufacturer DJI, which holds a dominant share of both the consumer and enterprise markets. Skydio, as a homegrown American company, is explicitly positioning itself as an alternative for government and enterprise customers seeking equipment that isn't subject to those same procurement restrictions.

Still, a practical question remains open: can a single American drone maker, however impressive its technology, compete with the industrial scale and pricing DJI offers to commercial and government customers alike? Skydio will need to prove not just advanced autonomous flight capability, but also a supply chain, support infrastructure, and pricing that justify the switch for public-sector buyers.

Who's backing the round?

The involvement of Next47, the corporate venture arm of German industrial giant Siemens, gives Skydio not just capital but also a potential open door to industrial partnerships in infrastructure and energy, sectors where drones for surveying and inspection are becoming an increasingly routine tool. The addition of NTT DOCOMO Ventures and Levitate Capital broadens the circle of strategic investors beyond the traditional venture capital funds that have backed the company since its early days.

It's hard not to be impressed by Skydio's leadership team pulling off a raise of this size less than two years after its previous round, at a time when many investors have grown more cautious about capital-intensive hardware companies. That points to genuine confidence in the autonomous flight technology the company has built, not just in the marketing narrative around its rivalry with DJI.