Mach Industries has raised an additional $600 million through a continuation of its Series C financing, bringing the defense manufacturer’s valuation to $3.7 billion. The financing includes continued backing from Ribbit Capital, Infinite Capital, Bedrock Capital, Sequoia and other investors and follows Mach Industries’ previously announced $300 million Series C.
Mach is developing autonomous weapons systems and the manufacturing infrastructure needed to produce them at scale for the U.S. military and allied forces.
The company plans to use the new capital to accelerate development across long-range strike, counter-UAS and other mission areas, while substantially expanding the manufacturing capabilities supporting those programs.
Mach is building vertically integrated capabilities spanning weapons platforms, airframes, propulsion, jet engines, solid rocket motors, energetics, autonomy and advanced manufacturing.
The company operates a 115,000-square-foot headquarters and manufacturing facility in Huntington Beach, California, with additional propulsion, energetics and production infrastructure elsewhere in the state.
Its vertical integration strategy is intended to give Mach greater control over the process of moving new defense systems from design and testing into scaled manufacturing.
Since its earlier $300 million Series C, Mach has increased production capacity across airframes and propulsion, continued developing long-range strike and counter-UAS systems, and launched Mach Energetics to expand its testing and production capabilities.
Mach also supplies components and subsystems to outside customers through Mach Propulsion and Mach Energetics, including products for booster, sustainer and unmanned aerial platforms.
KEY QUOTE:
“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.”
Ethan Thornton, Founder and CEO of Mach Industries
