Skyports, a company involved in vertiport infrastructure and electric drone operations, announced today, that it has secured over $110 million in its Series C funding round. This investment is expected to propel Skyports’ development in both vertiport construction and drone services.
In a relative note, we have seen quite a bit of drone service providers raising funds lately. Earlier this month, we had reported about Fotokite which raised $11M for autonomous tethered drone in firefighting and public safety. Moreover, back in January, Shield AI secured another $300M at $2.8B valuation to deploy its AI pilot for aircraft and drones.
Who are the investors
The significant investment came primarily from ACS Group, a major global infrastructure and construction company. ACS Group, with a 2023 revenue of $39 billion, invested through its infrastructure development arm, IRIDIUM. This investment positions ACS Group as the largest shareholder in Skyports.
As part of the investment, IRIDIUM CEO, Nuria Haltiwanger, will join the Skyports Board of Directors as Chairperson. Additionally, Ramon Villaamil and Vicente Maraña from ACS will also join the board.
Funding allocated for Vertiport Construction and Drone Services
The new capital will be used to support Skyports’ operations across its two primary business segments: Skyports Infrastructure and Skyports Drone Services.
- Skyports infrastructure: This division focuses on vertiport development and operations. The funding will go towards accelerating the construction of vertiports in Dubai, aligned with the planned launch of air taxi services by 2026. Additionally, Skyports Infrastructure will use the capital to pursue further development in other markets.
- Skyports drone services: This division offers various drone-based services, including recent ventures in offshore energy asset deliveries, medical deliveries, linear asset inspections, and water quality monitoring. The funding will allow Skyports Drone Services to expand its existing service offerings.
Strategic alignment with ACS INFRA
The collaboration between Skyports and ACS INFRA, known for its large-scale sustainable transport projects, presents a potential strategic fit. Notably, ACS INFRA’s portfolio includes projects like the Automated People Mover train at Los Angeles International Airport. The two companies will also explore the possibility of integrating drone delivery and inspection services into ACS Group’s vast infrastructure portfolio.
Continued support from existing investor
Groupe ADP, a Paris-based airport operator and existing shareholder in Skyports, participated in the Series C round with additional capital. Their partnership dates back to Skyports’ Series A funding round in 2019. The two companies have collaborated on various projects, including the first European vertiport testbed inaugurated in Paris in November 2022.
What we think about the startup
The investment from ACS Group marks a significant development in the AAM market. With a major construction company at the helm, Skyports gains access to expertise and resources that could accelerate vertiport development. However, competition in the AAM space is fierce, with other companies vying for dominance.
The success of Skyports’ endeavours will depend on its ability to not only construct vertiports but also establish itself as a leader in integrating these facilities into existing urban infrastructure and regulations. The coming years will reveal whether Skyports can capitalise on this investment and navigate the challenges that lie ahead.
