Castelion raises $1 billion to scale hypersonic missile production

hypersonic missiles defense technology Series C funding Blackbeard missile aerospace manufacturing

Defense technology startup Castelion has secured $1.05 billion in Series C financing, including $800 million in equity and $250 million in a revolving credit facility. The funding brings the company’s valuation to $13 billion.

Founded in 2022 by former SpaceX executives, Castelion aims to mass-produce low-cost hypersonic weapons to address gaps in U.S. defense capabilities. The capital will primarily scale production of the Blackbeard hypersonic strike missile at the company’s Project Ranger facility, a 1,000-acre manufacturing campus in Sandoval County, New Mexico. The company also plans to accelerate the development of longer-range precision strike weapons and defensive missile systems.

Castelion has secured over $500 million in U.S. military contracts over the last 18 months. The Blackbeard missile, which is designed for high-rate manufacturing, is currently a program of record with fielding targeted for 2027. The equity round was co-led by JPMorgan Chase’s Strategic Investment Group, Andreessen Horowitz, and funds managed by Carlyle, with participation from several existing investors and new investor T. Rowe Price.