Castelion raises $1 billion to scale Blackbeard hypersonic missile production
Castelion, a Torrance, California-based defense startup founded by former SpaceX executives, raised $1 billion in Series C funding (equity and credit), valuing it at $13 billion. Led by JPMorganChase, Andreessen Horowitz, and Carlyle, the funds will expand production of its Blackbeard hypersonic strike missile at its Project Ranger facility in New Mexico, develop longer-range weapons, and build defensive systems. The company has secured over $500 million in U.S. military contracts, with the Navy as primary customer, and targets fielding Blackbeard by 2027.
Editorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page itself is projected from evidence records.
- Current automated evidence projection
Cross-source coverage
Wire timeline
Castelion raises $1 billion Series C for hypersonic missiles
Castelion, a hypersonic missile startup founded by former SpaceX executives, announced a $1 billion Series C fundraise on August 20, 2026, valuing the company at $13 billion. The round includes $800 million in equity anchored by JPMorganChase, Andreessen Horowitz, and Carlyle, plus a $250 million revolving credit facility. The company plans to expand manufacturing of its Blackbeard hypersonic strike missile at its New Mexico campus, accelerate development of a longer-range precision weapon, and build defensive systems. Castelion has secured over $500 million in government contracts over the past 18 months, with the U.S. Navy as its primary customer. Key contracts include a $105 million award for integration on F/A-18E/F Super Hornets and a framework agreement for at least 500 missiles per year. Blackbeard is expected to cost roughly $384,000 per missile, with initial fielding targeted for 2027.
Castelion Secures $1 Billion to Scale Blackbeard Hypersonic Missile Production
Defense tech company Castelion has raised $1 billion in Series C funding, comprising $800 million in equity and a $250 million revolving credit facility, to ramp up production of its Blackbeard hypersonic missile and develop advanced weapons technology. The investment, led by JPMorganChase's Strategic Investment Group, Andreessen Horowitz, and Carlyle, values the company at $13 billion. Most capital will go toward expanding manufacturing at Castelion's Project Ranger site in Sandoval County, New Mexico, described as the largest dedicated hypersonic missile facility in the US. Over $250 million has already been invested in infrastructure. Castelion also plans to develop a longer-range precision strike weapon and defensive systems using Blackbeard's rapid production methods. The company has won over $500 million in US military contracts in the past 18 months and aims to deploy Blackbeard by 2027.
Castelion Raises $1 Billion to Scale Production of Blackbeard Hypersonic Missile
Defense tech company Castelion has secured $1 billion in Series C funding, comprising $800 million in equity and a $250 million revolving credit facility, to ramp up production of its Blackbeard hypersonic missile and develop advanced weapons technology. The investment, led by JPMorganChase's Strategic Investment Group, Andreessen Horowitz, and Carlyle, raises Castelion's valuation to $13 billion. The majority of funds will be used to increase manufacturing capacity at its Project Ranger site in Sandoval County, New Mexico, described as the largest dedicated hypersonic missile facility in the US. Over $250 million has already been invested in infrastructure there. Castelion also plans to develop a longer-range precision strike weapon and advance defensive systems. The company has won over $500 million in US military contracts in the past 18 months and aims to deploy Blackbeard by 2027.
Show 2 older updatesHide older updates
Castelion Raises $1 Billion to Scale Production of Blackbeard Hypersonic Missile
Defense technology company Castelion has secured $1 billion in Series C funding to ramp up production of its Blackbeard hypersonic missile and develop advanced weapons technology. The investment includes $800 million in equity and a $250 million revolving credit facility, raising the company's valuation to $13 billion. The equity round was jointly led by JPMorganChase's Strategic Investment Group, Andreessen Horowitz, and Carlyle, with participation from Lightspeed Venture Partners, Lavrock Ventures, Altimeter, General Catalyst, Interlagos, and T. Rowe Price Associates. Castelion plans to allocate most of the capital to increase manufacturing capacity at its Project Ranger site in Sandoval County, New Mexico, described as the largest dedicated hypersonic missile manufacturing facility in the US. The company has already invested over $250 million in infrastructure and aims to deliver a lower-cost, high-rate production alternative to complement existing long-range systems. Castelion has won more than $500 million in US military contracts over the past 18 months and targets deployment of the Blackbeard missile by 2027.
Hypersonic missile maker Castelion valued at $13 billion after $1 billion Series C raise
Castelion, a hypersonic missile developer based in Torrance, California, has raised $1 billion in a Series C funding round, valuing the company at $13 billion. The round includes $800 million in equity financing and $250 million in committed revolving credit. Co-led by JPMorganChase's Strategic Investment Group, Andreessen Horowitz, and Carlyle, the funding will expand production of Castelion's Blackbeard hypersonic strike missile, develop a longer-range strike weapon, and build new air and missile defense systems. Blackbeard, which went from initial design to program of record in under four years, is targeted for fielding in 2027. Castelion has secured over $500 million in U.S. military contracts in the past 18 months. Production is centered at its Project Ranger campus in New Mexico, described as the largest dedicated hypersonic missile manufacturing facility in the U.S.