Castelion raises $1B at $13B valuation to scale Blackbeard hypersonic missile production

Published Aug 20, 12:57 PM UTC

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.