Mach Industries reaches $3.7 billion valuation after $600 million funding round

Defense technology startup Mach Industries has raised $600 million in new funding, bringing its valuation to $3.7 billion. This latest investment follows a Series C round completed just three months prior.

The funding, which includes participation from Ribbit Capital, Infinite Capital, Bedrock Capital, and Sequoia, is intended to expand the company's manufacturing capabilities. Mach Industries is developing a vertically integrated manufacturing system to produce military hardware, including autonomous aircraft, drones, and counter-drone systems.

Key products in the company's portfolio include the Viper, a turbojet-powered vertical takeoff drone developed under a U.S. Army contract, as well as the Glide, Pike, and Dart drones. The company is also working on the Atlas, a Department of Defense contract for an aircraft capable of traveling 1,400 nautical miles from ship-based launches, and high-altitude communication balloons.