Castelion Raises $1 Billion to Accelerate Production of Blackbeard Hypersonic Missile
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This funding values the US defense technology company at $13 billion. It includes $800 million in equity and $250 million in committed financing for a revolving credit facility. JPMorgan Chase's Strategic Investment Group, Andreessen Horowitz, and funds managed by Carlyle co-led the funding round. Lightspeed Venture Partners, Lavrock Ventures, Altimeter, General Catalyst, and Interlagos also participated in the Series C funding round. T. Rowe Price Associates joined the company as a new investor.Castelion plans to use the new capital to increase Blackbeard's manufacturing capacity, allocating much of the investment to facilities in New Mexico. The company has secured military contracts worth over $500 million in the last 18 months. The Blackbeard went from a completely new design to an official program in less than four years, with its deployment planned for 2027.A significant portion of the investment will go to Project Ranger, Castelion's 405-hectare manufacturing complex in Sandoval County, New Mexico. Castelion describes these facilities as the largest hypersonic missile manufacturing center in the United States. The company had already invested over $250 million in private infrastructure at the complex. The expansion of manufacturing capacity aims to support higher production rates as Castelion moves towards the Blackbeard's operational deployment.The Series C funding...
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