Mach Industries, which makes unmanned military vehicles and weapons, raised $600M in an extension to its $300M Series C, doubling its valuation to $3.7B

Mach Industries, a defense technology firm specializing in unmanned military vehicles and weapons, has secured an additional $600 million in funding, extending its Series C round. This latest infusion of capital doubles the company's valuation to $3.7 billion. The initial Series C round, announced in June, raised $300 million at a $1.8 billion valuation. Investors in both tranches include prominent firms such as Ribbit Capital, Infinite Capital, Bedrock Capital, and Sequoia. This rapid valuation increase signifies a two-fold jump in just three months. Previously, Mach Industries had seen its valuation quadruple in June 2025, from $470 million to $1.8 billion, following a $100 million round. The company manufactures vertical takeoff and landing drones, long-range strike systems, and counter-drone systems. It operates a significant manufacturing footprint in California. Mach Industries recently acquired solid rocket motor (SRM) startup Exquadrum for $50 million, aiming to address supply chain bottlenecks for SRMs, a critical component for drone technology. This acquisition has led to the creation of a new business division, Mach Energetics, which produces SRMs and other propulsion systems for external clients. The company was founded by 22-year-old Ethan Thornton and has attracted investment from major venture capital firms, including Sequoia, marking their entry into defense tech.