Mach Industries, a defense manufacturing company focused on advanced unmanned systems, announced it has raised $300 million in Series C funding at a $1.8 billion valuation. The round was led by Infinite Capital and Ribbit Capital, with participation from existing investors Bedrock Capital, Sequoia Capital, and Khosla Ventures.
The new funding will be used to accelerate the execution of existing government contracts, expand talent acquisition efforts, advance product development, and grow Forge, the company’s flexible manufacturing network. The capital will also support the expansion of Mach Propulsion, the development of second-generation systems, and deeper partnerships with U.S. Department of War customers, including the Army, Air Force, and SOCOM, as well as allied governments.
Founded in 2023 and headquartered in Huntington Beach, California, Mach Industries develops advanced unmanned systems and manufacturing infrastructure designed to scale production. The company is focused on vertically integrating weapons, propulsion, and manufacturing capabilities to support modern defense requirements.
The company recently acquired Exquadrum, which has been rebranded as Mach Energetics. The acquisition adds energetics systems, engineering talent, manufacturing infrastructure, and testing facilities, enhancing the company’s testing throughput and enabling faster development cycles across its platforms.
Over the past year, Mach Industries has expanded significantly and now operates five active vehicle programs: Viper, a jet-powered vertical take-off one-way vehicle; Glide, a high-altitude strike glider; Stratos, an airborne surveillance platform; Dart, a low-cost counter-drone interceptor; and Pike, a long-range strike munition. The company expects production to begin on at least three of these systems during 2026.
Mach Industries also noted that it has strengthened its executive team with senior technical, operational, and government engagement leaders to support manufacturing scale, system development, and long-term strategic initiatives. The company said these developments represent its transition from rapid development to scaled production and deployment.
KEY QUOTES:
“Today’s Series C funding is a powerful accelerator for our mission. We’re delivering advanced unmanned systems at the pace the threat environment demands, and we’re grateful to our investors for believing in our ability to strengthen American and allied superiority on the battlefield.”
Ethan Thornton, Founder and CEO, Mach Industries
“Mach will be vital to the safety and future of free societies. As an outlier in defense innovation, Mach has proven with unprecedented speed to flight, production trajectory, and contract success that rebuilding America’s industrial base is of prime importance. The team’s mission-first ethos drives this strategy with urgency and operational discipline.”
Nathan Doctor, Founder, Infinite Capital
“At Ribbit, we partner with teams disrupting the status quo, who see the cracks before anyone else and have the conviction to build something better. Ethan and the Mach team are building with urgency, increasingly controlling their supply chain, and refusing to wait for incumbents to catch up. They combine technical depth, execution speed, and a strong sense of duty to country. We’re proud to co-lead this Series C as they build a defining company.”
Micky Malka, Founder, Ribbit Capital
