Neros Secures $75M Series B Funding, Joins Army Program with Sequoia Lead
Neros, based in El Segundo, California, has successfully secured $75 million in Series B funding, led by Sequoia Capital, with additional investments from Vy Capital US and Interlagos. This new influx of capital follows a period of rapid growth for the company, highlighted by significant revenue increases and key customer acquisitions.
Strategic Partnerships and Military Contracts
The funding round occurs shortly after Neros completed substantial customer deployments, including a large purchase order from the U.S. Marine Corps. Furthermore, the company has been selected as a primary supplier of First-Person View (FPV) drones for the U.S. Army under the Purpose-Built Attritable Systems (PBAS) program.
Funding Utilization and Production Expansion
The latest investment raises Neros’ total capital to over $120 million. It will facilitate expanding the company’s industrial capacity, particularly focusing on the mass production of its Archer and Archer Strike drone platforms, as well as Ground Control Systems.
- Strengthening a domestic, China-free supply chain
- Investing in allied component suppliers
- Enhancing research and development for next-generation autonomous systems
This funding will support Neros’ vertically integrated manufacturing strategy, allowing it to control essential production stages. The outcome is expected to enhance the delivery of advanced FPV capabilities to American military forces.
Leadership and Future Directions
Soren Monroe-Anderson, CEO of Neros, emphasized the significance of this fundraising as a culmination of over two years of growth and product development. He acknowledged the dedication of the Neros team and their investors’ faith in reshoring America’s drone manufacturing capabilities.
According to Shaun Maguire, a partner at Sequoia Capital, this successful funding round underscores the urgent need for reliable drone systems, with Neros emerging as a crucial player in the defense industry. Achal Upadhyaya, Founder and CEO of Interlagos, highlighted the potential for Neros to become a leading factory for drone production in the United States.
Global Expansion and Commitment
Neros is not only focusing on U.S. military contracts but is also expanding its presence internationally. The company plans to enhance operations in Ukraine and is already supplying drones to the UK Ministry of Defense.
The strategic global outreach allows Neros to meet the urgent demands of international customers while stabilizing its production requirements. To support this expansion, Neros is actively hiring across its locations, including Los Angeles, Kyiv, London, and Washington D.C.
With a commitment to address the production challenges faced by Western allies, Neros aims to lead the development of a resilient drone manufacturing base. The company continues to explore innovative solutions for advancing drone technology while securing an advantageous position against adversaries.
