Heaviside Industries has raised $60 million in Series B funding at a $600 million valuation and formed a strategic partnership with Norwegian defense company Nammo to supply warheads for Heaviside’s precision munitions platforms. Felicis led the financing, with significant participation from Hedosophia. Other investors included Menlo Ventures, Cantos, Flume Ventures, Qstar Capital, Friends & Family Capital, Anorak Ventures, and MVP Ventures. The financing comes three months after Heaviside emerged from stealth.
Founded in 2024, Heaviside develops autonomous precision munitions platforms operating across air, land, and sea for U.S. and allied military forces.
Under the Nammo partnership, the Norway-based aerospace and defense company will provide warheads for Heaviside’s multi-domain precision munitions platforms. The companies said the collaboration will combine Heaviside’s autonomous systems with Nammo’s established manufacturing capabilities and supply chain.
Nammo operates 27 production sites across 12 countries and supplies specialty ammunition, shoulder-fired weapons, rocket motors, and other defense products.
Heaviside plans to use the Series B capital to increase production capacity, expand hiring, fulfill existing customer commitments, and prepare for additional demand.
The company currently operates facilities in Los Angeles and Oslo and plans to expand its U.S. operational footprint to establish infrastructure and personnel needed for higher-volume manufacturing.
KEY QUOTES:
“Partnering with Nammo marks a major milestone for Heaviside, expanding our ability to deliver robust, fully integrated, and cost-effective precision munitions to customers at speed. Combined with our recent Series B financing, this partnership positions Heaviside to quickly scale and deliver our precision strike solutions to warfighters and allied customers worldwide.”
Phillip Walker, CEO of Heaviside Industries
“In defense, reputation and proven experience are paramount. The team at Heaviside has both. Pairing Heaviside’s deep operational expertise with Nammo’s established supply chain creates a scalable system that readily meets the rigorous demands of defense forces. We are proud to lead their Series B as they expand their operational footprint and deliver critical autonomous capabilities to U.S. and allied forces.”
Jake Storm, General Partner at Felicis
