Mach Industries, a defense technology company, develops advanced aerial systems including unmanned aerial vehicles, high-altitude gliders, and in-air satellites. The company announced a $100 million funding round, bringing its total capital raised to approximately $185 million. This latest investment values the company at $470 million.
The round was led by Khosla Ventures, with participation from Keith Rabois, and Bedrock Capital, with participation from Geoff Lewis. Participating investors included Sequoia.
Mach Industries was founded in 2023 by CEO Ethan Thornton. The company previously secured a $5.7 million seed round led by Sequoia in June 2023, followed by a $79 million Series A round led by Bedrock Capital in October 2023. The Series A round valued the company at $335 million post-money. Since its founding, Mach Industries has expanded its team from approximately 20 employees to 140.
The company's product portfolio includes Viper, a jet-powered vertical takeoff and landing unmanned aerial vehicle designed for runway-independent operation. Another system, Glide, is a high-altitude glider plane capable of striking targets from extended ranges. Stratos is an in-air satellite equipped with sensors and communication capabilities, designed for operation at extreme altitudes.
Mach Industries has secured contracts within the defense sector. Earlier this year, the company was selected by the Army Applications Laboratory to develop a vertical takeoff precision cruise missile. In support of its manufacturing capabilities, Mach Industries has announced plans for a 115,000-square-foot production facility in Huntington Beach, California.
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The global defense technology market continues to expand, driven by evolving geopolitical landscapes and advancements in autonomous systems. Mach Industries intends to use the new funding to build out its manufacturing capabilities and advance several new products currently in research and development, including new propulsion engine technologies.
"The work we do is done in direct contact with the State Department, with the Department of Defense, with congressional members," commented Ethan Thornton, CEO at Mach Industries.
