Axon, a global leader in public safety technology, has announced an additional $1.2 billion investment in Skydio. The agreement, which will add approximately 20% to Axon’s fully diluted ownership in Skydio at a $5.2 billion pre-money valuation, builds on a partnership that is already bringing Skydio drones to public safety agencies across the U.S., marking a major expansion of Axon’s Drone as First Responder (DFR) program.
“Within a decade, millions of drones will be working across America. Skydio is positioned to lead in every sector they touch,”
said Rick Smith, Founder and CEO of Axon.
“Axon is taking a major stake in one of the most valuable categories in tech, and Skydio stays free to move fast. With exclusive channel rights, Axon will widen its lead in public safety drones as Skydio builds the future of American aerial robotics. Two companies, each the best at what it does, will build something far bigger than either could alone.”
“Axon has been an incredible partner in bringing our drones to public safety customers across the U.S.,”
said Adam Bry, CEO of Skydio.
“We’re excited to deepen that partnership with Axon becoming our exclusive channel for U.S. and Canadian public safety. This investment strengthens our ability to accelerate our technology roadmap, scale our impact in public safety and continue advancing autonomous flight across every critical industry we serve.”
Axon estimates the total addressable market for DFR at approximately $13 billion in the U.S. and Canada alone, an opportunity fully accessible through its partnered offering as thousands of agencies begin to evaluate and deploy DFR technology. That opportunity is already translating into significant commercial momentum: Skydio’s business is seeing rapid growth and expects to achieve approximately $1 billion in total bookings in its current fiscal year.
Axon’s investment consists of approximately $1.2 billion comprised of a mix of cash and Axon stock, subject to final transaction terms. The investment includes both primary capital to Skydio and the purchase of shares from existing Skydio shareholders, with a portion of the cash consideration providing growth capital to accelerate innovation, expand Skydio’s product portfolio and bring new drone capabilities to customers faster. Axon’s larger ownership stake lets it participate in that growth. The transactions comprising the investment are expected to close in the fourth quarter of 2026 and first quarter of 2027, subject to customary closing conditions.
About Axon
Axon is the global leader in public safety technology supporting state, local, federal and international public safety agencies with technology designed to Protect Life. Complementing its mission, Axon’s growing Enterprise market focuses on protecting critical infrastructure and frontline workers across multiple industries including corporate security, hospitality, retail and healthcare. Founder-led since 1993, Axon builds products with transparency and responsibility.
From TASER energy devices to today’s connected network of hardware – including cameras, drones, and robotics – cloud software, sensors, and AI-tools, the Axon ecosystem helps seamlessly protect people and places when it matters most. To ensure these technologies align with community expectations, Axon’s independent Ethics & Equity Advisory Council guides the ethical, inclusive, and accountable design of its products and services.
About Skydio
Skydio is the largest U.S.-based drone manufacturer and world leader in flying robots. Founded in 2014, Skydio leverages breakthrough AI-backed autonomy to create drones that are easier to operate, safer to fly, and more capable in complex environments. Skydio systems are trusted by more than 4,000 agencies and organizations across the U.S. in the public safety and critical infrastructure sectors, every branch of the U.S. military, and the armed forces of 32 allied nations. Skydio designs, assembles, and supports its products in the U.S. from its headquarters in San Mateo, California.
Source: Axon