# Axon targets larger Skydio stake with $1.2 billion investment Axon will also become the drone maker’s exclusive public safety distributor in the U.S. and Canada. Published 2026-11-06 by TGOs. Canonical: https://tgos.io/news/2026/11/06/axon-targets-larger-skydio-stake-with-1-2-billion/ Axon announced a roughly $1.2 billion minority investment in Skydio on Nov. 5, 2026.[1] It expects its ownership to reach about 37% on a fully diluted basis.[1] The investment would pair a larger minority stake with an exclusive public safety sales channel in the U.S. and Canada.[1][2] The deal builds on a partnership already bringing Skydio drones to public safety agencies across the U.S.[2] Axon describes it as an expansion of its Drone as First Responder program.[2] The initial purchase closed on Nov. 5.[1] Axon expects the remaining transactions to close during the fourth quarter of 2026 and first quarter of 2027, subject to customary closing conditions.[1] ## Why it matters The investment combines capital for Skydio with purchases from existing shareholders.[2] The initial purchase of about $254.9 million in non-voting Series G preferred shares was made directly with Skydio.[1] Part of the cash consideration is intended to fund innovation and product expansion at Skydio, Axon says.[2] ## Sources 1. Axon Form 8-K, Nov. 5, 2026 2. Exhibit 99.1, Axon press release, Nov. 5, 2026