Castelion hits $13B valuation to mass-produce hypersonic missiles
The $1 billion Series C was co-led by Andreessen Horowitz, Carlyle, and JP Morgan Chase.
Castelion, a missile startup co-founded by ex-SpaceX engineers, has secured a substantial $1 billion Series C investment, propelling its valuation to an impressive $13 billion. The funding round was jointly spearheaded by notable venture capital firms Andreessen Horowitz, Carlyle, and JP Morgan Chase. Established in 2022, the company aims to produce hypersonic missile systems at a lower cost and with greater speed compared to conventional defense contractors.
To date, Castelion has clinched over $500 million in military contracts with the U.S. government. The influx of capital comes at a crucial time, as the Pentagon seeks to bolster its hypersonic missile arsenal, which lags behind China's advancements. With its innovative manufacturing methods, Castelion believes it can help bridge the gap in hypersonic missile capabilities.
The Torrance, California-based firm will leverage the fresh funds to ramp up production of its Blackbeard missiles and other hypersonic weapons at its New Mexico facility. The $800 million equity portion of the round was accompanied by a $250 million revolving credit facility, attracting participation from existing investors such as Lightspeed, General Catalyst, and Altimeter.
Written by urgent.news from TechCrunch's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
