Defense Tech Startup Mach Industries Eyes $100M Funding Round
▼ Summary
– Mach Industries is close to completing a $100 million funding round, co-led by Khosla Ventures and Bedrock Capital, potentially valuing the company at $470 million.
– Founded by 21-year-old Ethan Thornton, Mach Industries has attracted attention for its advanced aerospace systems and next-gen weaponry, becoming Sequoia Capital’s first defense tech investment.
– The startup uses a modular manufacturing approach and has secured a contract with the Army Applications Laboratory for a precision cruise missile system called “Strategic Strike.”
– Plans for a 115,000-square-foot manufacturing hub in Huntington Beach, California, indicate rapid expansion for Mach Industries.
– The company’s funding journey shows strong investor confidence, with significant investments from Sequoia, Bedrock Capital, and now Khosla Ventures.
Mach Industries, the innovative defense technology startup founded by young entrepreneur Ethan Thornton, is reportedly nearing completion of a $100 million funding round. Sources indicate the investment is being co-led by Khosla Ventures and existing backer Bedrock Capital, potentially valuing the company at approximately $470 million. While deal terms remain subject to change, this injection of capital would push Mach’s total funding to roughly $185 million since its inception.
The company has garnered significant attention within defense tech circles, partly due to Thornton’s unconventional background. At just 21 years old, he left MIT to launch Mach Industries, which later became Sequoia Capital’s first foray into defense technology investments. The startup specializes in advanced aerospace systems, including vertical liftoff vehicles and next-generation weaponry designed for operations at the edge of space.
Mach Industries has also made waves with its modular manufacturing approach, developing compact, rapidly deployable production facilities. Earlier this year, the company secured a contract with the Army Applications Laboratory to create a precision cruise missile system dubbed “Strategic Strike.” Additionally, plans are underway for a 115,000-square-foot manufacturing hub in Huntington Beach, California, signaling rapid expansion.
The startup’s funding journey highlights strong investor confidence. After Sequoia’s initial $5.7 million seed investment in mid-2023, Bedrock Capital’s Geoff Lewis spearheaded a $79 million Series A shortly afterward. With Khosla’s Keith Rabois now joining the fold, Mach Industries appears poised to accelerate its ambitious defense and aerospace initiatives.
(Source: TechCrunch)
