Castelion raises $1B Series C to scale Blackbeard hypersonic missile production

Published Aug 20, 12:57 PM UTC

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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.

Source

Army TechnologyWestern

Original headline: Castelion raises $1bn to scale low-cost hypersonic missiles

Original language: EN-US