Defense startup Mach Industries raises $600M amid manufacturing push
Mach Industries Inc. has raised $600 million in funding to expand its manufacturing capacity. The investment, which was announced today, extends a Series C round that the company closed in June. That deal included the participation of Ribbit Capital, Infinite Capital, Bedrock Capital, Sequoia and others. The four venture capital firms also backed Mach Industries’ […] The post Defense startup Mach…
Defense startup Mach Industries has secured $600 million in funding to bolster its manufacturing capabilities. This investment follows a June Series C round that included participation from venture capital firms Ribbit Capital, Infinite Capital, Bedrock Capital, and Sequoia. The funds will be used to expand Mach Industries' automated aircraft production.
Mach Industries is known for its autonomous aircraft, with the Viper being its first product. Developed from a contract with the U.S. Army in March, Viper can take off vertically without the need for launch infrastructure. It is powered by a turbojet engine, which compresses and heats air to create high-speed exhaust.
Other drones in Mach's lineup include Glide and Pike, optimized for long-range flight, and Dart, designed for cost-efficiency and capable of intercepting other drones through collision. Mach also offers a pseudo-satellite, a high-altitude balloon capable of carrying sensors and communications equipment.
The company is not limited to traditional autonomous aircraft designs and recently secured a contract with the U.S. Defense Department to develop an aircraft called Atlas. This aircraft can take off from ships and travel up to 1,400 nautical miles per trip.
Mach Industries is developing a vertically integrated manufacturing system to produce the core components of its aircraft in-house. It operates a 115,000-square-foot plant in Huntington Beach, California, which serves as both its headquarters and manufacturing facility.
In May, Mach Industries acquired rocket motor manufacturer Exquadrum Inc. for $50 million. The company recently partnered with Divergent Technologies Inc. to assess its production workflows, successfully designing and manufacturing a new drone in just 71 days. This rapid turnaround was aided by the use of 3D printing, enabling the creation of a single, easier-to-produce structure.
Mach CEO Ethan Thornton stated that this investment will allow for continued capacity expansion and faster movement of new platforms from development into production.
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