Castelion secures $1 billion Series C, reaches $13 billion valuation for hypersonic missile production
Missile startup Castelion raised a $1 billion Series C round at a $13 billion valuation, aiming to mass-produce hypersonic weapons.
Castelion, a defense startup created by ex-SpaceX executives, announced a $1 billion Series C financing that values the firm at $13 billion. The round, co-led by Andreessen Horowitz, Carlyle and JP Morgan Chase, combines $800 million in equity with a $250 million revolving credit facility, and also features participation from existing backers Lightspeed, General Catalyst and Altimeter. Since its 2022 launch, the Torrance, Calif., company has secured more than $500 million in contracts with the U.S. military.
The new capital will be used to scale production of its Blackbeard hypersonic missile and other weapons at a facility in New Mexico. This investment comes as the Pentagon seeks to close a gap in its hypersonic arsenal, which lags behind China’s capabilities. Castelion’s faster, lower-cost manufacturing approach is positioned to help meet that demand.
Why it matters
The funding could accelerate U.S. hypersonic missile production, narrowing a strategic gap with China.
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