Key facts
- Castelion, a startup founded by former SpaceX executives, has raised $1 billion in Series C funding.
- The company's valuation reached $13 billion.
- The funding round was co-led by Andreessen Horowitz, Carlyle, and JP Morgan Chase.
- Castelion aims to mass-produce hypersonic missiles at lower costs and faster speeds.
- The startup has already secured over $500 million in U.S. military contracts.
- Funds will be used to produce Blackbeard missiles and other hypersonic weapons at its New Mexico facility.
Castelion, a startup founded by former SpaceX executives, has secured $1 billion in Series C funding, achieving a $13 billion valuation. The round was co-led by Andreessen Horowitz, Carlyle, and JP Morgan Chase, with participation from existing investors including Lightspeed, General Catalyst, and Altimeter.
Founded in 2022, Castelion aims to manufacture hypersonic weapon systems at lower costs and faster speeds than traditional defense contractors. The company has already secured over $500 million in U.S. military contracts.
The timing of the funding is significant as the Pentagon seeks to bolster its stockpile of hypersonic missiles, which has not kept pace with China's advancements. Castelion's faster manufacturing process is intended to help close this gap.
The Torrance, California-based startup plans to use the capital to produce its Blackbeard missiles and other hypersonic weapons at its New Mexico production facility. The funding comprised $800 million in equity and a $250 million revolving credit facility.