El Segundo Defense Firm Neros Raises $75 Million to Scale Drone Production
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El Segundo-based Neros closed a $75 million Series B round led by Sequoia Capital with participation from Vy Capital US and Interlagos. This round immediately follows a period of rapid production scaling, significant revenue growth and successful customer deployments that included a large drone purchase from the U.S. Marine Corps. Neros was selected as one of the primary suppliers of FPV drones to the U.S. Army through the Purpose-Built Attritable System (PBAS) program. All three Series B participants are existing backers of Neros.
“Our Series B fundraise represents the culmination of more than two years of company growth, focused product development and aggressive iteration based on real battlefield results. The credit goes to the relentless efforts of our entire team that has gotten us to this point, and we are grateful to our investors who believe in our vision of reshoring an American drone industrial base,” said Soren Monroe-Anderson, chief executive of Neros, in a statement.
This latest capital raise brings Neros’ total to over $120 million since its inception in 2023. It will accelerate the expansion of the company’s industrial capacity while strengthening a robust China-free supply chain. Neros will utilize new funding to scale the production of its flagship Archer/Archer Strike drone platforms and its ground control systems. Additionally, Neros will substantially increase research and development in future-looking architectures to shape the next generation of autonomous systems.
“Neros is one of the fastest companies in history to be awarded meaningful defense contracts. It shows how mission-critical FPV drones are,” said Shaun Maguire, partner at Sequoia Capital, in a statement. “Drone performance and high-throughput production go hand in hand. Neros should be the first 1-million-drone factory in the United States,” added Achal Upadhyaya, founder of Interlagos, in a statement.
Information for this article was sourced from Neros Tech.
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