Castelion hits $13B valuation to mass-produce hypersonic missiles

In Brief

Castelion, a missile startup founded by erstwhile SpaceX executives, has raised a $1 cardinal Series C astatine a $13 cardinal valuation. The circular was co-led by Andreessen Horowitz, Carlyle, and JP Morgan Chase.

Founded successful 2022, Castelion set retired to manufacture hypersonic limb systems astatine a little outgo and astatine faster speeds than accepted defence primes. Since then, the startup has secured much than $500 million in U.S. military contracts.

The backing for the startup is timely. The Pentagon has been looking to procure much of these weapons, since the U.S.’s stockpile of hypersonic missiles susceptible of travelling astatine speeds supra Mach 5 hasn’t kept gait with China’s. Castelion is betting it tin assistance adjacent the spread with its faster manufacturing process.

The Torrance, Calif.-based startup volition usage the caller superior to nutrient its Blackbeard missiles, named aft a fierce English pirate, and different hypersonic weapons successful its New Mexico accumulation facility.

The backing round, which included information from existing backers including Lightspeed, General Catalyst, and Altimeter, comprised $800 cardinal successful equity and a $250 cardinal revolving recognition facility.

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