Axon invests $1.2 billion in drone maker Skydio at a $5.2 billion valuation
Only $255 million is fresh capital; the rest buys existing shares. Axon becomes Skydio's exclusive public-safety distributor in the US and Canada.
- Investment: $1.2B
- Pre-money valuation: $5.2B
- New capital: ~$255M
The deal
Axon is investing $1.2 billion in Skydio at a $5.2 billion pre-money valuation, lifting its stake from about 15% to roughly 37%. Only about $255 million is new money for Skydio, with the remainder buying existing shares.
Axon also becomes the exclusive distributor of Skydio drones to public-safety agencies in the US and Canada.
Market reaction
Axon's own shares fell about 18% on the day, in a report that also noted a revenue and EPS miss and lower guidance. Axon and Skydio first partnered in 2021, and Axon joined Skydio's 2023 round at a $2.2 billion valuation. The terms come from a small number of reports and should be checked against company filings.
