Mach Industries Raises $600 Million, Doubling Valuation to $3.7 Billion in 3 Months
Updated
Updated · TechCrunch · Sep 10
Mach Industries Raises $600 Million, Doubling Valuation to $3.7 Billion in 3 Months
3 articles · Updated · TechCrunch · Sep 10
Summary
$600 million in new Series C extension funding lifted Mach Industries' valuation to $3.7 billion, up from $1.8 billion when it announced the original $300 million Series C in June.
The defense startup's rapid rise reflects investor appetite for lower-cost military systems, including vertical-takeoff drones, long-range strike platforms and counter-drone technology built at its 115,000-square-foot Huntington Beach facility.
A $50 million cash-and-equity acquisition of rocket-motor startup Exquadrum in May helped Mach tackle a key supply bottleneck and seeded Mach Energetics, a new business producing solid rocket motors and energetic systems.
Mach is also expanding into jet-engine manufacturing through Mach Propulsion, aiming to ease another constrained defense supply chain as venture firms such as Sequoia and Ribbit deepen bets on defense tech.