Pyka, an Alameda, CA-based electric aviation technology leader that designs and manufactures large-scale autonomous electric aircraft, raised $40M in Series B funding.
The round was led by Obvious Ventures, with participation from both new and existing investors, including Piva Capital, Prelude Ventures, Metaplanet Holdings, and Y Combinator.
The company intends to use the funds to accelerate its growth and further scale production of its autonomous aircraft for agriculture, defense, and commercial logistics.
Led by Michael Norcia, Co-Founder and Chief Executive Officer, Pyka produces Pelican Spray, a 1,320-lb, fully autonomous, and 100% electric aircraft designed for complex agricultural operations. The aircraft combines spray precision and chemical drift reduction technologies to provide safe, clean, and cost-effective crop protection at scale. Pelican Spray is the largest FAA-approved UAS for agricultural operations and the most productive spray UAS on the Market. Additionally, the company produces Pelican Cargo, a large-scale autonomous electric cargo aircraft capable of heavy-payload, long-range, and off-airport operation. The 100% electric aircraft can transport up to 400 lbs over a range of 200 miles. Pyka has partnered with Sierra Nevada Company to introduce RUMRUNNER, a modified edition of Pelican Cargo, to customers within the U.S. Department of Defense for sustainment in contested logistics operations.
Pyka currently produces the largest commercially-approved uncrewed aircraft system (UAS) in the United States and maintains active commercial operations across the U.S., Central America, and Brazil. Its portfolio of customers includes key players in the agriculture, commercial cargo, and defense logistics value chains, such as Dole, Embraer, Sierra Nevada Company, Heinen Brothers Agra Services, and Skyports Drone Services. In early 2024, Pyka delivered three aircraft to the United States Air Force as part of the Agility Prime program.
The new investment will accelerate Pyka’s growth across its dual-use product line. On the commercial side, it will support further investment in Pyka’s domestic manufacturing capabilities, boost production of its Pelican Spray and Pelican Cargo products, and enable expanded operations with both U.S. and international customers. Additionally, the Series B funds will advance the development of new capabilities to support contested logistics operations for the U.S. Department of Defense and allied partners.
FinSMEs
23/09/2024