Axon agrees to invest about $1.2bn in drone maker Skydio at a $5.2bn pre-money valuation, and becomes its exclusive public-safety distributor in the US and Canada

Axon, the maker of Taser devices and police body cameras, said on 5 November that it will invest about $1.2bn more in Skydio, the US maker of autonomous drones, in a mix of cash and Axon stock, subject to final terms, “at a $5.2 billion pre-money valuation”. Part is new money for Skydio and part buys shares from existing holders. The deal adds about 20% to Axon's fully diluted ownership; the release does not give Axon's total stake.

“Axon will also become Skydio's exclusive distributor for public safety in the U.S. and Canada.” Closing is expected across the fourth quarter of 2026 and the first quarter of 2027.

Axon says Skydio has more than 1,500 public-safety customers and expects about $1bn of total bookings this fiscal year, and that its drones reach the scene before officers on about 80% of the calls they are sent to. The deal is a bet on “drone as first responder”, where a drone flies itself to a 911 call. “Within a decade, millions of drones will be working across America,” said Rick Smith, Axon's founder and chief executive.

Axon announced the deal on the same day as its third-quarter results. The Robot Report also covered it.

• Confirmed About $1.2bn in cash and Axon stock at a $5.2bn pre-money valuation, adding about 20% to Axon's fully diluted ownership. Axon
• Confirmed Axon becomes Skydio's exclusive public-safety distributor in the US and Canada; closing is expected in Q4 2026 and Q1 2027. Axon
• Claimed Skydio has more than 1,500 public-safety customers and expects about $1bn of bookings this fiscal year. Axon