Mach Industries Raises $100M in Latest Funding Round
Defense technology startup Mach Industries has secured $100 million in new funding, boosting its valuation to approximately $470 million. The round is co-led by Khosla Ventures, a new investor, and existing investor Bedrock Capital. Keith Rabois is leading the investment for Khosla.
While the deal is not yet finalized and terms could change, this significant investment underscores the growing interest in Mach Industries' innovative technology. Founded by 21-year-old Ethan Thornton, the company focuses on developing vertical liftoff vehicles and weapons systems designed to operate from the edge of space.
From MIT Dropout to Defense Innovator
Ethan Thornton, a former MIT student, founded Mach Industries as a teenager. The company garnered attention early on as Sequoia Capital's first defense tech investment. Mach Industries is also developing smaller, easily deployable factories to scale production as needed.
Strategic Partnerships and Future Growth
In March, Mach Industries announced a partnership with the Army Applications Laboratory to develop a vertical takeoff precision cruise missile, dubbed "Strategic Strike." The company also revealed plans for its first 115,000-square-foot factory in Huntington Beach, California.
This latest funding round brings Mach Industries' total funding to approximately $185 million. Sequoia Capital led the company's $5.7 million seed round in June 2023. Bedrock Capital, led by Geoff Lewis, spearheaded the $79 million Series A round a few months later.
With this new influx of capital, Mach Industries is poised to further advance its space-edge technology and expand its operations.
