Protection tech startup Mach Industries has raised a recent $600 million in capital in a Sequence C extension spherical that has doubled its valuation to $3.7 billion, the corporate introduced on Thursday. It introduced the unique Sequence C in June, which was $300 million at a $1.8 billion valuation. Traders in each tranches embrace Ribbit Capital, Infinite Capital, Bedrock Capital and Sequoia.
That implies that this increase represents a two-fold bounce in simply three months. The earlier spherical was additionally an enormous enhance: quadruple the valuation of an $100 million round at a $470 million valuation, introduced in June 2025.
Mach manufactures a wide range of unmanned army automobiles and weapons, together with vertical takeoff and touchdown drones, methods supposed for long-range strikes, and counter-drone methods. It operates a 115,000-square-foot manufacturing facility at its headquarters of Huntington Seaside, California, with further services situated throughout the state.
Its pitch is that it builds extremely built-in methods that value lower than these from incumbent protection contractors. To that finish, it acquired solid rocket motor (SRM) startup Exquadrum in a $50 million cash-and-equity deal in Could, beating out a minimum of eight different potential consumers, the startup mentioned.
The rise of drones has created a scarcity of SRMs in a market largely managed by two incumbents. Exquadrum was Mach’s reply to that bottleneck. The acquisition has since change into the premise for a brand new line of enterprise for the corporate known as Mach Energetics, which produces SRMs in addition to jet engines and energetic methods for others.
Mach, based and run by 22-year-old Ethan Thornton, is a quintessential instance of the type of protection tech startup that basic Silicon Valley VCs are spending large on. Thornton dropped out of MIT at age 19 to work on Mach and shortly landed Sequoia’s Stephanie Zhan and Shaun Maguire as buyers, marking the primary protection tech funding for the venerable enterprise agency.
After landing a U.S. Army contract earlier this year, the corporate additionally caught the eye of Ribbit Capital, as soon as greatest generally known as a fintech investor however extra lately concerned in a string of high-profile AI offers, starting from coding startups like Cognition to neoclouds like Crusoe.
Whenever you buy by means of hyperlinks in our articles, we may earn a small commission. This doesn’t have an effect on our editorial independence.