Saronic, a defense technology leader that designs and manufactures autonomous surface vessels (ASVs), announced a $175 million Series B funding round, putting the company’s valuation at $1 billion. And the funding round was led by Andreessen Horowitz (a16z), with participation from both new and existing investors, including 8VC, Caffeinated Capital, Elad Gil, and NightDragon, and others.
Saronic’s Spyglass and Cutlass autonomous surface vessels combine sophisticated hardware, software, and AI to accomplish the nation’s most critical maritime missions. And Saronic’s Spyglass and Cutlass autonomous surface vessels combine best-in-class hardware, software, and AI to accomplish the nation’s most critical maritime missions.
Saronic is transforming maritime superiority for the U.S. Navy and its allies by delivering the most effective and advanced ASVs at the speed and scale needed to meet the rapidly growing needs of the Joint Force. And Saronic’s ASVs are designed to serve as a force multiplier for the existing Fleet, working along with manned systems to allow naval forces to go farther and do more with less risk to life and mission.
Saronic’s investor group features firms committed to ensuring that the U.S. military maintains its decisive advantage in the face of an increasingly complex and competitive global threat landscape through the integration of advanced technology and innovative capabilities that truly meet the needs of the warfighter.
This new funding will accelerate Saronic’s growth domestically and internationally. And at home, it will enable further expansion of Saronic’s in-house manufacturing capabilities and enable increased production of all its ASV models. Plus, it will advance the research and development of new autonomous capabilities for naval and maritime forces, including increased technology and payload integration with government and commercial partners. Internationally, this investment will support Saronic’s expansion to more fully serve U.S. allies and partners in key markets. Saronic’s family of ASVs includes Spyglass (6′), Cutlass (14′), and Corsair, its largest model, which is currently in development and testing.
Each vessel has integrated autonomous capabilities to meet a customer’s specific requirements and can carry diverse payloads in communication- and GPS-denied environments. And through the vertical integration of hardware and software as well as the use of a Modular Open Systems Architecture (MOSA), Saronic’s ASVs deliver greater interoperability at a price point that makes them attritable. Having a cost-effective capability that could be deployed without putting human operators in harm’s way increases the survivability of the fleet and enables commanders to engage in situations where the risk is too high to deploy a traditional manned system.
KEY QUOTES:
“We are creating an entirely new capability for the maritime domain, one that delivers naval power without the costs and delays of a shipyard. As the future of naval warfare will rely on manned and unmanned teaming, we must build solutions that easily integrate into the existing fleet and can be produced at scale to meet any emerging threat. We are grateful to our investment partners who believe so strongly in Saronic’s ability to meet that need.”
– Saronic CEO Dino Mavrookas
“Our nation’s future depends on us continuing to build and deploy the best, most innovative technology. Saronic is developing the solutions we need to protect the warfighter and stay ahead of our adversaries, and we are proud to support their continued growth.”
– Katherine Boyle, General Partner at a16z
“To deter China and other adversaries, the United States and our allies must bring intelligent, autonomous new capabilities to naval warfare. Saronic delivers these capabilities on a relevant scale and timeline, and has enlisted the top engineers and operators in the industry.”
– Alex Moore, Partner at 8VC
