British drone-killer startup Cambridge Aerospace hits $3.4 billion valuation

Published Aug 10, 08:07 AM UTC

Cambridge Aerospace, a British air defense startup founded in late 2024, closed a $300 million Series C funding round on August 10, 2026, led by DFJ Growth, valuing the company at $3.4 billion. The startup's flagship product, the Skyhammer interceptor missile, is designed to cheaply counter low-cost attack drones, with a unit cost in the tens of thousands of dollars versus traditional missiles costing hundreds of thousands. The UK Ministry of Defence contracted the company in April 2026 to supply Skyhammer interceptors, with initial deliveries starting in May. In July 2026, Cambridge Aerospace also won a contract under the five-nation LEAP program (UK, France, Germany, Italy, Poland) to develop affordable interceptors. The company's rapid rise is attributed to its leadership team, including CEO Steven Barrett, and a development timeline from concept to production in under two years.