Axon plans $1.2 billion more investment in Skydio
The cash-and-stock investment would raise Axon’s stake in the drone maker to about 37%. Axon also plans to become Skydio’s exclusive distributor in the US and Canada.
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The cash-and-stock investment would raise Axon’s stake in the drone maker to about 37%. Axon also plans to become Skydio’s exclusive distributor in the US and Canada.
Axon Enterprise plans to invest an additional $1.2 billion in cash and stock in drone maker Skydio, increasing its stake to about 37% and giving it exclusive distribution rights in the US and Canada, Axon said on 5 November.
Axon, which makes police body cameras, previously invested in Skydio as part of a financing round announced in February 2023.
The new investment would value Skydio at $5.2 billion before the investment, CNA Business said. Skydio develops autonomous drones powered by superintelligence (SI), which public-safety agencies and military customers use across the US.
Axon said priority response times at agencies using its Drone as First Responder program have fallen by as much as 65%. It also said drones arrive before officers on about 80% of calls on which they are deployed.
The transactions are expected to close in the fourth quarter of 2026 and the first quarter of 2027.
Chipmaker SK Hynix fell more than 10% as the sell-off reached South Korea on 6 November.
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