UK air defence firm Cambridge Aerospace raises $300 million

British air defence company Cambridge Aerospace has announced the closure of its Series C round with USD 300 million dollars of investment at a USD 3.4 billion valuation. 

The round will support Cambridge Aerospace’s continued exponential growth as the company expands manufacturing capabilities to deliver on existing and new contracts, while continuing to invest in the spiral development of existing products and bringing the next generation of capabilities to market, Cambridge Aerospace said in a press release.

The round was led by DFJ Growth and supported by Lux, Accel, Lakestar, Never Lift, Ora Global and Elad Gil & Co. The addition of DFJ Growth and their expertise in rapidly scaling technology, combined with the continued support from early investors, shows the confidence in Cambridge Aerospace as they continue to deliver on contracts and invest in new technology.

“By bringing together the best talent in the world with a singular mission to protect Allied skies from threats we have achieved a huge amount already,” Cambridge Aerospace CEO, Steven Barrett said. “The addition of these funds will allow us to continue to scale our manufacturing and our delivery to meet the pace of threats, and the needs of Allied nations.”

Since the company’s USD 200 million raise at a USD 1.3 billion valuation at Series B, co-led by Elad Gil & Co and Spark Capital, in April of this year, Cambridge Aerospace has received several contracts from the UK Ministry of Defence including to provide low-cost interceptors for the UK Armed Forces, the press release said.  

“Cambridge Aerospace is solving one of the most pressing challenges of modern warfare. They have developed an affordable and accurate counter UAS system for eliminating the inbound threats and battlefield chaos caused by low-cost aerial attack drones,” Randy Glein, DFJ Growth Founder and Managing Partner said. “We surveyed the global landscape and identified Cambridge as having the best team and technology to build the most advanced and modern air defense infrastructure for Europe and its allies.”

“This valuation is a great vote of confidence in Britain,” UK Defence Secretary Wes Streeting said. “Cambridge Aerospace’s Skyhammer is an example of the low-cost interceptor missiles our Armed Forces need to deter adversaries and keep our country safe.”