Defense Startup Mach Industries Soars to $1.8B Valuation

Mach Industries, a three-year-old defense tech startup, announced a $300 million Series C funding round, valuing the company at $1.8 billion. This significant increase nearly quadruples its valuation from June 2025, when it was valued at $470 million. The round was led by Infinite Capital and Ribbit Capital, with total funding now reaching approximately $485 million.

Founded in 2023 by 22-year-old Ethan Thornton, Mach Industries is at the forefront of defense technology investment, driven by the demand for autonomous weapons and drone defense systems. The company has five autonomous vehicles in development, including vertical takeoff vehicles and counter-drone interceptors, with production slated to begin next year for at least three systems.

Adding to its momentum, Mach Industries recently won a Department of Defense contract from the Defense Innovation Unit to develop a new runway-independent strike aircraft. This follows its strategic acquisition of solid rocket motor (SRM) startup Exquadrum for $50 million, a move that enhances its control over a critical component and launches a new commercial business, Mach Energetics.

The rapid growth is reflected in its expanding workforce, now around 350 employees, and its significant manufacturing footprint. Mach Industries aims to deliver faster, more affordable products to the military and commercial sectors, contrasting with the slower, bespoke offerings of legacy defense contractors.