British air defence startup Cambridge Aerospace valued at $3.4B after $300M Series C

Published Aug 11, 09:14 AM UTC

Cambridge Aerospace, a British air defence company formed in 2024, closed a $300 million Series C funding round at a $3.4 billion valuation, led by DFJ Growth with support from Lux, Accel, and others. The funds will scale manufacturing and deliver on existing contracts, including work for the British armed forces. The company's first product, Skyhammer, is a low-cost modular interceptor for Shahed-type attack drones, with a second product, Starhammer, due in 2027. Since its Series B in April 2026, the company secured multiple Ministry of Defence contracts, including the Low-Cost Effectors and Autonomous Platforms (LEAP) programme. The valuation reflects growing demand for affordable counter-drone solutions amid the cost-exchange problem highlighted by the Ukraine war and Red Sea incidents, where expensive missiles are used against cheap drones. Defence Secretary Wes Streeting called the valuation a vote of confidence in Britain's defence startup ecosystem.