Defense tech startup Mach Industries has secured $600 million in a Series C extension round. This investment has increased the company's valuation to $3.7 billion, effectively doubling it in just three months. The initial Series C round, announced in June, raised $300 million at a valuation of $1.8 billion.
The company's investor base includes Ribbit Capital, Infinite Capital, Bedrock Capital, and Sequoia. Mach Industries previously raised $100 million at a valuation of $470 million in June 2025. The startup focuses on manufacturing unmanned military vehicles, including vertical takeoff drones, long-range strike systems, and counter-drone technology.
Mach Industries operates a 115 000-square-foot manufacturing facility in Huntington Beach, California, alongside other sites in the state. In May, the company acquired solid rocket motor startup Exquadrum for $50 million in cash and equity. This acquisition led to the creation of Mach Energetics, a division producing rocket motors and jet engines.
Founded by Ethan Thornton, who left MIT at age 19, the company aims to provide integrated defense systems at a lower cost than traditional contractors. The startup has secured a contract with the U.S. Army earlier this year. Mach Industries currently represents a significant focus for Silicon Valley venture capital firms in the defense technology sector.
