Developer of automated cargo planes draws $100 million investment

The Reliable Robotics Autolanding gear is visible as a Cessna 208 Cargomaster flies in this undated handout over California, U.S. Reliable Robotics/Handout via REUTERS

(Reuters) - Reliable Robotics, a Silicon Valley startup aiming to automate conventional fixed-wing planes to ferry cargo and eventually passengers, has raised $100 million from investors, the company said on Thursday.

The Series C round was led by New York-based Coatue Management, whose investment portfolio includes Rivian and Lime.