Mach raises $600 million to scale defense manufacturing

Mach Industries, a California-based defense manufacturer developing advanced autonomous systems for the US military and its allies, has announced a USD 600 million continuation of its Series C financing, bringing the company’s valuation to USD 3.7 billion. Ribbit Capital, Infinite Capital, Bedrock Capital, Sequoia and others participated in this round.  

The financing will support continued development of platforms across long-range strike, counter-UAS, and other mission areas, while expanding the manufacturing infrastructure required to produce them at scale, according to a press release.

“Modern deterrence requires an industrial base capable of building relevant capabilities at the speed and volume the mission demands,” said Ethan Thornton, Founder and CEO of Mach Industries. “This investment allows us to continue expanding that capacity while moving new platforms from development into production faster.”

Mach Industries operates a 115,000-square-foot headquarters and manufacturing facility in Huntington Beach, California, with additional propulsion, energetics and production infrastructure across the state. The US company is building a vertically integrated defense industrial base spanning airframes, jet engines, solid rocket motors, energetic systems, autonomy, and advanced manufacturing.

This financing follows Mach Industries’ USD 300 million Series C. The company has increased capacity across airframes and propulsion while advancing systems in long-range strike, counter-UAS, and other mission areas, the press release said.