Pyka Series B raises $40m
Pyka has raised $40m in Series B funding to continue growth of its dual-use product line for commercial and defence markets.
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.
Pyka has developed the largest commercially-approved uncrewed aircraft system (UAS) in the US at 1,320lbs. The firm is deploying its aircraft across sectors including agricultural crop protection, commercial cargo transportation and defence logistics. It has active commercial operations across the US, Central America and Brazil with customers including Dole, Embraer and Skyports Drone Services. The firm also delivered three aircraft to the US Air Force as part of its Agility Prime programme earlier this year.
“This accomplishment is a significant milestone for Pyka,” said Michael Norcia, co-founder and CEO at Pyka. “We are designing, developing, and commercialising autonomous electric aircraft at a pace that few companies have been able to achieve. With commercial production well underway, and our aircraft deployed with customers on multiple continents, we are extremely proud of the progress we’ve made as a company thus far. This round of funding brings us one step closer to unlocking autonomous electric flight for society.”
According to Pyka, commercially, new investment will support further development of the firm’s domestic manufacturing capabilities and boost production of its Pelican Spray and Pelican Cargo. On the defence side, the Series B funding will advance the development of new capabilities to support contested logistics operations for the US Department of Defense.
Andrew Beebe, MD at Obvious Ventures, said: “From the beginning, Pyka was focused on getting into the air and getting into business with commercial operations. Their cost-effective mindset and discipline caught our attention. And what got us really excited was the passion of the team and their mission-driven focus on electrifying aviation and decarbonising one of the worst offenders in the world.”
