Skydio was valued at $2.2 billion in the round.

Drone manufacturer Skydio has raised $230m in a Series E funding round, led by Linse Capital, which values the company at $2.2 billion, more than double its valuation two years ago. Andreessen Horowitz, Next47, IVP, DoCoMo, Nvidia, the Walton Family Foundation, UP Partners, Hercules Capital, and Axon also participated in the round.

Skydio produces drones for consumer, enterprise, and government sectors and has more than 1,200 enterprise customers. Its autonomous drones are mainly used for surveillance and public safety operations. (Crunchbase)

Skydio has raised $562m in total and has seen 30x growth over the past three years. It last raised $170 million Series D at a valuation of over $1 billion two years ago.

“The growth comes against the backdrop of a market that has historically been dominated by manually flown drones made by companies based in China that are beholden to China’s governmental policy,” Skydio said in a statement. “Escalating geo-political tensions have sharpened the need for secure, trustworthy drones to serve critical infrastructure, public safety, and defense customers.”

Skydio’s drones are used by every branch of the US Department of Defense and more than half of all US state departments of transportation.

The new funding is the largest raised by a drone manufacturer this year.

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