PiggyGPT

Private companiesCovered

Auterion

Arlington, Virginia, United States · Founded 2018

Auterion makes AuterionOS, an operating system for drones and other uncrewed vehicles, with Skynode flight computers and the Nemyx swarm engine that let one operator control many drones from different makers. Its Skynode strike kits fly with Ukrainian forces under a $50 million Pentagon contract, and a joint venture with Ukraine’s Airlogix builds strike drones in Germany under a German government contract.

Profile

What it builds and who buys it

  • ·AuterionOS unifies drone fleets from multiple manufacturers into one coordinated system, letting one operator control many autonomous vehicles at once.Auterion (company release), Sep 23, 2025
  • ·Skynode X is an integrated autopilot and mission computer that adds AI autonomy, secure communications and edge computing to existing drones.Auterion (company release), Sep 23, 2025
  • ·Skynode S, introduced in June 2024, is a low-cost all-in-one computer and flight controller for kinetic use, with terminal guidance that keeps working when GPS and radio links are jammed.Auterion (company release), Jun 27, 2024
  • ·In July 2025 Auterion announced a $50 million Pentagon-backed contract to deliver 33,000 AI strike kits to Ukraine, more than ten times its earlier shipments.Auterion (company release), Jul 28, 2025
  • ·By January 2026 the company had shipped more than 30,000 Skynode strike kits to Ukraine.Auterion (company release), Jan 13, 2026
  • ·Nemyx, launched in September 2025, is a swarm engine delivered as an app on AuterionOS that coordinates drones from different manufacturers against multiple targets.Auterion (company release), Sep 3, 2025
  • ·In January 2026, at Camp Blanding in Florida, one operator used Nemyx to strike three targets at once with three drones carrying Kraken Kinetics warheads, an early preview of the Department of War’s Swarm Forge program.Auterion (company release), Jan 13, 2026
  • ·Auterion was one of eight winners of the Army’s XTechDisrupt competition and flew Nemyx swarms with the 25th Infantry Division at the JPMRC 26-1 exercise in Hawaii.Auterion, Dec 2, 2025
  • ·In December 2025, for government customers in Munich, a Nemyx swarm of eight FPV munitions and two fixed-wing drones from different manufacturers ran a full strike sequence as one formation.Auterion (company release), Dec 15, 2025
  • ·In October 2025 Auterion completed the Defense Innovation Unit’s Artemis project, a long-range strike drone with a range of up to 1,000 miles built with an unnamed Ukrainian manufacturer.Auterion (company release), Oct 15, 2025
  • ·In June 2025 Auterion signed a memorandum of understanding with Taiwan’s NCSIST to integrate AuterionOS into a new generation of uncrewed vehicles built by NCSIST and Taiwanese manufacturers.Auterion (company release), Jun 17, 2025
  • ·In February 2026 Auterion and the Ukrainian drone maker Airlogix formed Auterion Airlogix Joint Venture GmbH, with the backing of the German and Ukrainian governments, to build AI-guided strike drones in Germany.Auterion (company release), Feb 13, 2026
  • ·In April 2026 the joint venture received its first production contract, for thousands of mid-range strike systems for Ukraine’s armed forces, under a German-Ukrainian cooperation agreement.Auterion (company release), Apr 14, 2026
  • ·In September 2026 the joint venture began serial production of more than 5,000 Seth X and Anubis strike systems under a contract funded by the German government.Auterion (company release), Sep 21, 2026
  • ·In July 2026 Auterion and Skyfall began delivering 50,000 Shrike drones fitted with Skynode S strike kits to Ukrainian forces, funded by a European NATO nation under a contract awarded to Auterion. Auterion calls it the largest partnership in its history.Auterion (company release), Jul 13, 2026
  • ·In October 2026 it introduced the Nemyx Vertical Launch System, a launcher for drones from multiple manufacturers that can trigger single or swarm launches.Auterion (company release), Oct 5, 2026
  • ·The company lists the U.S. Department of War, the UK Ministry of Defence, the German Bundeswehr and the Armed Forces of Ukraine among its defense customers.Auterion (company release), Apr 14, 2026
  • ·Reuters reported in November 2025 that Auterion had become profitable that year, had about 160 employees and was supplying the software for Rheinmetall’s loitering munitions.Reuters (via WDEZ), Nov 20, 2025
  • ·Bilanz reported in November 2025 that civilian business was 3 percent of revenue, down from as much as 40 percent.Bilanz, Nov 10, 2025
  • ·Auterion opened a UK business in January 2025 to work with the UK government and Ministry of Defence.Auterion (company release), Jan 28, 2025
  • ·Auterion moved its headquarters from Moorpark, California to Arlington, Virginia in May 2024. It runs engineering in Zurich and Munich.Auterion (company release), May 16, 2024
  • ·Robert Rainhart, formerly president and COO of HawkEye 360, joined as chief operating officer in November 2024.Auterion (company release), Nov 18, 2024
  • ·The October 2025 Form D lists Lorenz Meier, Greg Sands, Klaus Hommels and Alex Ferrara as directors.SEC EDGAR (Form D), Oct 1, 2025

Founders and leadership

  • Lorenz MeierCo-founder and chief executive

    Created the Pixhawk autopilot and the MAVLink protocol and founded the PX4 open-source flight control project. Named an MIT Innovator under 35.Auterion (company release), Sep 4, 2018

  • Kevin SartoriCo-founder, no longer active at the company

    UC Berkeley MBA and drone industry veteran from Silicon Valley. Bilanz reported that he left in 2022 and keeps a small stake.Bilanz, Nov 10, 2025

Prospects, after the September 2025 Series B

Prepared by PiggyGPT, as of Oct 15, 2026

  • ·The contracts on file are for strike volume in Ukraine: 33,000 Skynode kits under the $50 million Pentagon contract, 50,000 Skyfall Shrikes funded by a European NATO nation, and more than 5,000 joint-venture strike systems under a German government contract.Auterion (company release), Sep 21, 2026
  • ·The product line has moved from kits on other makers’ drones toward swarms and launch hardware: Nemyx in September 2025, a live-fire swarm strike in January 2026 and the Nemyx launcher in October 2026.Auterion (company release), Oct 5, 2026
  • ·The last stated valuation is the floor of more than $600 million Meier gave Bloomberg at the September 2025 Series B. Resilience Media reported talks in February 2026 at more than $1.2 billion, and a company spokesperson said it was not fundraising at the moment. A March 2026 Series C at $1.2 billion appears only on an aggregator’s page and is not on file.Resilience Media, Feb 27, 2026
  • ·Reuters put annual revenue at around €100 million ($115 million) in 2025, the year the company turned profitable. Bilanz reported $65 million in the same month, so the figure rests on one report.Reuters (via WDEZ), Nov 20, 2025
  • ·For the acquisition read, Rheinmetall holds a significant minority stake, has a cooperation agreement and buys Auterion software for its loitering munitions. Meier told Reuters the stake is not aimed at a takeover. No talks or approach are on file. The posture is watch.Reuters (via WDEZ), Nov 20, 2025

A summary of what the figures on this page add up to, prepared by PiggyGPT from the record on file and its cited sources. Not the Street's view, and not advice.

Funding

Last valuation

$600M

Post-money, Series B, reportedBloomberg (via Bloomberg Law), Sep 23, 2025

Last round or tender

$130Mraised

Series BAuterion (company release), Sep 23, 2025

Led by Bessemer Venture Partners, with Lakestar, Mosaic Ventures and Costanoa Ventures; Bessemer partner Alex Ferrara joined the board. Of the $130 million, $25 million is non-dilutive capital backed by the Department of War’s Office of Strategic Capital and provided by Rochefort. The company stated no valuation. Chief executive Lorenz Meier told Bloomberg it was “north of” $600 million, a floor, and Handelsblatt reported that the round tripled the valuation. A Form D records $87,684,134 of equity sold to 17 investors from September 17, 2025, of a $107,799,157 offering.

Latest revenue figure

$115M

Annual revenue, reported, Dec 31, 2025Reuters (via WDEZ), Nov 20, 2025

Valuation to revenue

5.2x

$600M (Sep 23, 2025) over $115M (Dec 31, 2025)

Post-money valuation by round

Fewer than two dated figures on file to plot; the table carries what there is.

DateRoundRaisedPost-money
Sep 23, 2025Series BLed by Bessemer Venture Partners, with Lakestar, Mosaic Ventures and Costanoa Ventures; Bessemer partner Alex Ferrara joined the board. Of the $130 million, $25 million is non-dilutive capital backed by the Department of War’s Office of Strategic Capital and provided by Rochefort. The company stated no valuation. Chief executive Lorenz Meier told Bloomberg it was “north of” $600 million, a floor, and Handelsblatt reported that the round tripled the valuation. A Form D records $87,684,134 of equity sold to 17 investors from September 17, 2025, of a $107,799,157 offering.$130M$600Mreported
Sep 4, 2018SeedFrom Lakestar, Mosaic Ventures, Costanoa Ventures and Tectonic Ventures, announced with the launch of its enterprise drone operating system.$10M—

Primary capital across the rounds on file: $140M

Revenue

Annual revenue. Each figure as the source stated it.

Fewer than two dated figures on file to plot; the table carries what there is.

As ofFigureMeasure
Dec 31, 2025$115MreportedAnnual revenueAnnual revenue of around €100 million ($115 million), as Reuters reported in November 2025, the year the company became profitable. Other reports differ: Resilience Media quoted Meier in September 2025 as saying revenue was close to $100 million, and Bilanz reported in November 2025 revenue of currently $65 million. Resilience Media reported in February 2026, from sources, that the company was on track to double revenue to $200 million in 2026 on signed contracts.

Secondary venues

  • Caplightpublic page seen Oct 15, 2026

    No price on the public page.

    No public MarketPrice; historical pricing is behind sign-up. The page lists a Series C dated March 5, 2026 and an estimated valuation of $1.2 billion, an aggregator’s figures with no company or press confirmation on file.

  • Nasdaq Private Marketpublic page seen Oct 15, 2026

    No price on the public page.

    No public price; price per share and valuation are behind sign-up. The page lists Series B-1 and Series B-2 tranches dated September 23, 2025 and gives the founding year as 2024.

  • Jarsypublic page seen Oct 15, 2026

    No price on the public page.

    A tokenized pre-IPO platform. The public page names Auterion and shows no token or share price, and its valuation field is empty without an account.

A venue is listed when its public page named the company on the date shown. A price is the figure that page showed, under the venue’s own name for it and dated as the venue dated it; it is a level the venue publishes, not a trade. Nothing is recorded from behind a login.

Reads

Acquisition: Watch

A cited tie to a plausible buyer: a strategic partner, an investor stake, a tender offer, a stated appetite. Nothing reported.

Prepared by PiggyGPT, as of Oct 15, 2026

Signals

  • Dec 9, 2024Rheinmetall and Auterion signed a long-term cooperation agreement covering joint product development and sales of a standard operating system for military drones.Auterion (company release), Dec 9, 2024
  • Sep 23, 2025Auterion raised a $130 million Series B led by Bessemer Venture Partners, $25 million of it non-dilutive capital backed by the Department of War’s Office of Strategic Capital. Meier told Bloomberg the valuation was north of $600 million.Auterion (company release), Sep 23, 2025
  • Nov 20, 2025Reuters reported that Rheinmetall had bought a significant stake in Auterion, short of a blocking minority. Meier said Rheinmetall was not aiming for a takeover and that Auterion could remain independent for another 30 years.Reuters (via WDEZ), Nov 20, 2025
  • Feb 27, 2026Resilience Media reported, from multiple sources, that Auterion was looking at raising $200 million at a valuation of more than $1.2 billion. A company spokesperson said it was not fundraising at the moment.Resilience Media, Feb 27, 2026
  • Oct 5, 2026Auterion’s Nemyx Vertical Launch System launched with drones from partners including Rheinmetall, Skyfall and Airlogix.Auterion (company release), Oct 5, 2026

Named counterparties

  • RheinmetallHolds a significant minority stake, bought in November 2025, and has a long-term cooperation agreement with Auterion from December 2024; Auterion supplies the software for Rheinmetall’s loitering munitions. Meier told Reuters the stake is not aimed at a takeover.Reuters (via WDEZ), Nov 20, 2025

Counterparties are named for a cited reason: a partnership, an investment, or a stated appetite. Naming is not a forecast.

A summary of what the figures on this page add up to, prepared by PiggyGPT from the record on file and its cited sources. Not the Street's view, and not advice.

Sources

Researched Oct 15, 2026