Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>Skyfish raised over $20 million in a Series Seed round in June 2021, led by Henry Wolfond of Bayshore Capital and Steven Bernstein.</li><li>Skyfish is a full-stack drone manufacturer that builds everything from airframes and controllers to firmware and data processing software.</li><li>Skyfish operates a B2B model combining hardware sales with recurring software subscriptions, targeting government agencies and commercial infrastructure operators.</li></ul>

Skyfish raised over $20 million in a Series Seed round in June 2021, led by Henry Wolfond of Bayshore Capital and Steven Bernstein.Skyfish is a full-stack drone manufacturer that builds everything from airframes and controllers to firmware and data processing software.Skyfish operates a B2B model combining hardware sales with recurring software subscriptions, targeting government agencies and commercial infrastructure operators.

Quantum Systems / Private Capital Markets

<ul><li>Quantum Systems bids directly with local entities vs. selling through partnerships with primes.</li><li>After becoming the first European drone company to deploy at scale in Ukraine immediately after the 2022 invasion, Quantum Systems has rode the upsurge of demand for drones.</li><li>Quantum is building Mosaic, a software-based command platform for unmanned warfare that governments license annually to orchestrate any vendor's drones across services.</li></ul>

Quantum Systems bids directly with local entities vs. selling through partnerships with primes.After becoming the first European drone company to deploy at scale in Ukraine immediately after the 2022 invasion, Quantum Systems has rode the upsurge of demand for drones.Quantum is building Mosaic, a software-based command platform for unmanned warfare that governments license annually to orchestrate any vendor's drones across services.

Quantum Systems At $124M/year Up 216% YoY

<ul><li>With federal buyers moving away from China's DJI, California’s Skydio is well-positioned to capitalize as a domestic drone producer that can help satisfy the aims of Trump's "Drone Dominance" executive order.</li><li>Sacra estimates Skydio hit $180M in revenue in 2024, up 80% YoY from $100M in 2023.</li><li>As Blue List procurement restrictions expand outwards from the DoD to all defense contractors (Oct 2024) to any federally funded agency (late 2025), Skydio is positioned to be the domestic DJI replacement that helps fulfill Trump’s Drone Dominance executive order about supporting the U.S.’s domestic drone capabilities.</li></ul>

With federal buyers moving away from China's DJI, California’s Skydio is well-positioned to capitalize as a domestic drone producer that can help satisfy the aims of Trump's "Drone Dominance" executive order.Sacra estimates Skydio hit $180M in revenue in 2024, up 80% YoY from $100M in 2023.As Blue List procurement restrictions expand outwards from the DoD to all defense contractors (Oct 2024) to any federally funded agency (late 2025), Skydio is positioned to be the domestic DJI replacement that helps fulfill Trump’s Drone Dominance executive order about supporting the U.S.’s domestic drone capabilities.

<ul><li>Despite China’s DJI owning 80–90% of the market for drones in the U.S, security guidance from DoD—and a proposed ban on all DJI drone imports in Congress—is driving even commercial &amp; industrial buyers away, opening a window for U.S.-made alternatives just as infrastructure operators refresh their fleets for ISR, photogrammetry, and routine inspection work.</li><li>Moving from episodic, 9-to-5 manual flights to 24/7 autonomous operations, the next big opportunity is in building the networks of “drone nests” that power routine, high-frequency aerial coverage of the physical world—networks of low-cost, on-site base stations that recharge and redeploy drones automatically, enabling persistent monitoring across power lines, telecom towers, highways, and emergency zones without needing a pilot or crew.</li><li>As drone operations shift from human-supervised to fully autonomous, Skyfish is betting that full-stack control is the only way to make drone nest infrastructure work—because without tight integration across the drone’s airframe, battery system, controller, firmware, sensors, and GPS/cell radios, coordinating autonomous takeoff, docking, charging, and payload routines becomes too unreliable to deploy at scale.</li></ul>

Despite China’s DJI owning 80–90% of the market for drones in the U.S, security guidance from DoD—and a proposed ban on all DJI drone imports in Congress—is driving even commercial &amp; industrial buyers away, opening a window for U.S.-made alternatives just as infrastructure operators refresh their fleets for ISR, photogrammetry, and routine inspection work.Moving from episodic, 9-to-5 manual flights to 24/7 autonomous operations, the next big opportunity is in building the networks of “drone nests” that power routine, high-frequency aerial coverage of the physical world—networks of low-cost, on-site base stations that recharge and redeploy drones automatically, enabling persistent monitoring across power lines, telecom towers, highways, and emergency zones without needing a pilot or crew.As drone operations shift from human-supervised to fully autonomous, Skyfish is betting that full-stack control is the only way to make drone nest infrastructure work—because without tight integration across the drone’s airframe, battery system, controller, firmware, sensors, and GPS/cell radios, coordinating autonomous takeoff, docking, charging, and payload routines becomes too unreliable to deploy at scale.

Orest Pilskalns, CEO Of Skyfish, On Building Autonomous Drone Infrastructure

United States

Autonomous drone platform for inspecting, measuring, mapping, and modeling critical infrastructure

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Skyfish (SKYFISH US)

Primer: Skyfish - 14 Dec 2025

Autonomous drone platform for inspecting, measuring, mapping, and modeling critical infrastructure

Sacra

Quantum Systems At $124M/year Up 216% YoY

TL;DR: After pivoting from civilian surveying drones to defense following Russia's 2014 Crimea annexation, Germany's Quantum Systems became the...

Sacra

Skydio At $180M/year Growing 80% YoY

TL;DR: With federal buyers moving away from China's DJI, California’s Skydio is well-positioned to capitalize as a domestic drone producer that can...

Sacra

Orest Pilskalns, CEO Of Skyfish, On Building Autonomous Drone Infrastructure

Let’s start out with just a thumbnail bio of Skyfish, its place in the market, and how it came about...

Sacra

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