Defense tech Mach Industries doubles valuation to $3.7B in 3 months

Defense tech startup Mach Industries has raised a caller $600 cardinal successful superior successful a Series C hold circular that has doubled its valuation to $3.7 billion, the institution announced connected Thursday. It announced the archetypal Series C successful June, which was $300 cardinal astatine a $1.8 cardinal valuation. Investors successful some tranches see Ribbit Capital, Infinite Capital, Bedrock Capital and Sequoia.

That means that this rise represents a two-fold leap successful conscionable 3 months. The erstwhile circular was besides a large increase: quadruple the valuation of an $100 cardinal circular astatine a $470 cardinal valuation, announced successful June 2025.

Mach manufactures a assortment of unmanned subject vehicles and weapons, including vertical takeoff and landing drones, systems intended for long-range strikes, and counter-drone systems. It operates a 115,000-square-foot manufacturing installation astatine its office of Huntington Beach, California, with further facilities located crossed the state.

Its transportation is that it builds highly integrated systems that outgo little than those from incumbent defence contractors. To that end, it acquired coagulated rocket centrifugal (SRM) startup Exquadrum successful a $50 cardinal cash-and-equity woody successful May, beating retired astatine slightest 8 different imaginable buyers, the startup said.

The emergence of drones has created a shortage of SRMs successful a marketplace mostly controlled by 2 incumbents. Exquadrum was Mach’s reply to that bottleneck. The acquisition has since go the ground for a caller enactment of concern for the institution called Mach Energetics, which produces SRMs arsenic good arsenic pitchy engines and energetic systems for others.

Mach, founded and tally by 22-year-old Ethan Thornton, is simply a quintessential illustration of the benignant of defence tech startup that classical Silicon Valley VCs are spending large on. Thornton dropped retired of MIT astatine property 19 to enactment connected Mach and soon landed Sequoia’s Stephanie Zhan and Shaun Maguire arsenic investors, marking the archetypal defence tech concern for the venerable task firm.

After landing a U.S. Army declaration earlier this year, the institution besides caught the attraction of Ribbit Capital, erstwhile champion known arsenic a fintech capitalist but much precocious progressive successful a drawstring of high-profile AI deals, ranging from coding startups like Cognition to neoclouds similar Crusoe.