Silicon Valley Bank has provided a $25m term loan to Reliable Robotics, as part of $115m of new capital upsizing its Series D round to $275m, with proceeds to be used to expand the company's aircraft fleet and production facilities, and scale its engineering team.
The new capital comprises $90m of equity funding led by returning investor Nimble Partners and the $25m term loan from Silicon Valley Bank, TechCrunch reported. Reliable said the financing lifts its valuation to more than $1bn. The company has raised more than $380m in equity capital to date. The terms of the loan were not disclosed.
New equity investors in the extension include Gideon Capital, RockCreek, Geek Ventures, Gold Hill Capital and Sparkwave Capital, alongside returning investor Island Green Partners. Allen & Company supported the Series D fundraise.
Reliable announced the initial $160m Series D on 21 April 2026, led by Nimble Partners, with continued support from Eclipse, Lightspeed, Coatue and Pathbreaker Ventures, and new investors including AE Ventures, a strategic partner of Boeing, and RTX Ventures. John Burbank of Nimble joined the board at that time.
Robert Rose, co-founder and CEO, told TechCrunch: "We continue to make steady progress and deliver evidence to the FAA and every day, we inch closer and closer." TechCrunch reported that Rose expects certification of Reliable's first system, continuous autopilot engagement, in 18 to 24 months.
Headquartered in Mountain View, California, with operations in San Martin, California, and Albuquerque, New Mexico, Reliable is developing the Reliable Autonomy System for commercial and defence aviation. The company has more than 250 staff, is opening offices in Seattle and San Diego, is certifying the system with the FAA on the Cessna 208B Grand Caravan, and describes RAS as dual-use, with contracts across multiple branches of the US military and several military airworthiness reviews completed with the US Air Force.