SKYX Platforms Corp., a smart home platform technology company, has announced significant corporate developments including a collaboration with NVIDIA, new product launches at major retailers, and substantial institutional investments. The company reported raising over $33 million in cash from fundamental institutions and existing investors following its September 30, 2025 report of $13 million in total cash, cash equivalents, restricted cash, and receivables. A $25 million investment came from one fundamental institution at $2.50 per share in straight common with no warrants.
The company announced a collaboration with the NVIDIA AI Ecosystem Connect Program and expects to grow this collaboration into its existing and future smart home projects. SKYX will also launch a new AI-driven software for its e-commerce platform of 60 websites, which is expected to increase conversion rates and sales by up to 30%. This technological expansion follows the company's demonstration of its technology during a Marriott Hotel renovation, with expectations to grow its hotel segment during 2026. The Shaner Group, an owner and developer of more than 70 hotels worldwide and Marriott Hotel chain owner, led a $16.5 million investment round.
SKYX has launched its patented advanced SKYFAN and Turbo Heater to U.S. leading retailer Home Depot, including a new SkyPlug branding page on homedepot.com. The company has also announced launches of its Turbo Heater Fan at other major U.S. retailers including Target, Walmart, Lowe's, and on its e-commerce platform with 60 websites. The company expects to continue significant growth with its SKYFAN and Turbo Heater in 2026 to advance its path to cash-flow positive.
Company revenues increased for seven consecutive comparable quarters from Q1 2024 through Q3 2025 and are expected to continue quarterly growth. SKYX anticipates securing additional significant business opportunities on several fronts during 2026 and expects to supply its advanced and smart home technologies to upcoming and future key projects in the U.S. and globally. These projects include a North Carolina smart home community, developments in Austin Texas, San Antonio Texas, Miami Florida's new $4 billion smart city, Saudi Arabia, and Egypt. The company is expected to deploy over 1 million units of its advanced and smart home plug-and-play technologies during the course of these projects.
SKYX continues to grow its market penetration and expects to deploy over 100,000 of its products into homes and units by the end of 2026 through retail and professional segments. The company's technologies expansion provides additional opportunities for future recurring revenues through interchangeability, upgrades, AI services, monitoring, subscriptions, and more. SKYX has secured U.S. and global strategic manufacturing partnerships with premier manufacturers including in the U.S., Vietnam, Taiwan, China, and Cambodia.
On the regulatory front, SKYX's Safety Code Standardization Team is continuing its progress toward its goal of a safety mandatory standardization in homes and buildings of its ceiling outlet and receptacle technology. The team is receiving support from a new significant prominent leader with its government safety agency's process. The code team is led by industry veterans Mark Earley, former head of the National Electrical Code, and Eric Jacobson, former President and CEO of the American Lighting Association. The company believes its products can save insurance companies many billions of dollars annually by reducing fires, ladder falls, and electrocutions.
Management believes the company is well capitalized to execute its growth initiatives while progressing toward sustained cash-flow generation and profitability following recent capital raises. The company has extended and converted $13.5 million in notes coming due with maturity out to five years until 2030. SKYX's total addressable market in the U.S. is roughly $500 billion with over 4.2 billion ceiling applications in the U.S. alone. Expected revenue streams from retail and professional segments include product sales, royalties, licensing, subscription, monitoring, and sale of global country rights.
