Saronic Technologies announced it has closed $600 million of funding for its Series C round to advance its goal of redefining maritime superiority for the US and its allies. The funding round was led by Elad Gil and it values the company at $4 billion.
This recent funding round quadrupled Saronic’s valuation seven months after the company hit unicorn status in July 2024. And Saronic welcomes General Catalyst as a new investor and recognized the commitments from existing investors, including a16z, Caffeinated Capital, and 8VC.
The funding round marks a new phase in advancing autonomy for naval and maritime missions. With this funding round, Saronic plans to build Port Alpha, a next-generation shipyard capable of delivering new classes of unmanned ships at the speed and scale needed to protect and defend the maritime domain.
Port Alpha will enable the expansion of Saronic’s Autonomous Surface Vessel (ASV) fleet into medium and large-class autonomous ships for defense applications. With this strategy, Saronic is addressing gaps in U.S. shipbuilding capacity and investing in the critical infrastructure to deliver the range and volume of autonomous ships needed to create and sustain the U.S. military’s hybrid fleet.
America’s security and prosperity depend on the freedom of navigation guaranteed by the U.S. Navy and our allies. And the maritime domain has increasingly become a focus of international conflict and economic influence. To stay ahead of our adversaries, now is the time for America to reexamine its historic reliance on exquisite, expensive, aging manned vessels and the analog industrial base supporting them.
The U.S. Navy has declared the need for a hybrid fleet that integrates many unmanned systems operating alongside manned platforms. Making this happen requires a transformation in how we approach shipbuilding and a dedicated focus on scaling the production of advanced technologies and autonomous systems that can extend the operational reach of the fleet, deter conflict, protect sailors and assets, and be quickly produced at a fraction of the cost.
Saronic invested substantially in developing and expanding its manufacturing capabilities for its small ASVs over the past two years. Port Alpha will build on that foundation and deliver an advanced waterside facility designed from the ground up around a first-principles approach to shipbuilding. And this approach will focus on eliminating inefficiencies, optimizing workflows, and creating a production system that maximizes quality, scalability, and speed. Saronic will utilize the processes and best practices that have transformed commercial manufacturing industries to redefine how ships are built in the autonomy era.
KEY QUOTES:
“A core principle of Saronic is that we design our vessels for autonomy from the keel up. We will take the same approach with Port Alpha, designing a shipyard from the ground up to produce at a speed and scale not seen since World War II. Port Alpha will reflect the apex of America’s shipbuilding past – generating new opportunities for the country’s shipbuilding workforce, forging public-private partnerships to accelerate growth, and bringing innovation and ingenuity to an essential industry. We will bring these elements together with a single goal: to rapidly build a fleet of autonomous vessels in America that redefines maritime superiority and guarantees freedom of the seas for generations to come.”
- Saronic CEO and Co-Founder Dino Mavrookas
“The last years have seen a degradation in the capacity for the United States to build ships and to manufacture core needs of the country. I am excited to back Saronic and its focus on revitalizing shipbuilding in America, while also building products to defend those interests.”
- Elad Gil, CEO, Gil Capital
“At General Catalyst, our mission is to help modernize our nation’s defense and industrial resilience. The velocity and economics of warfare have fundamentally evolved and several of our own team have witnessed firsthand how unmanned systems became true force multipliers in Afghanistan and in other theaters of conflict. Saronic represents a paradigm shift for our maritime resilience. GC is proud to help Saronic transform our shipbuilding industry and provide the capabilities needed for the Navy’s modern hybrid fleet.”
- Paul Kwan, Managing Director, General Catalyst
“As a founder of Palantir and Addepar, and an investor in every funding round at Anduril, I’ve seen many exceptional companies and intense cultures. Saronic goes toe to toe with any of these legendary companies on its exceptional talent, intensity of effort, and mission-driven passion. We are proud to have supported Dino from day one. Saronic is one of the most important, and most impressive companies in the USA. It is critical to our national security, and to the future of the free world!”
- Joe Lonsdale, Founder and Managing Partner, 8VC
