Castelion raises $1 billion to accelerate US hypersonic missile production
Article excerpt
Castelion, one of the United States’ fastest‑advancing hypersonic weapons start-ups, has secured a $1 billion Series C funding round that would allow the company to dramatically expand its production of next‑generation strike and missile defense systems. The raise, which values the California‑based firm at $13b., demonstrates that Washington is accelerating investment in industrial capacity for high‑speed precision weapons amid intensifying global tensions. The round combines $800 million in equity with a $250m. revolving credit facility. It was led by JPMorgan Chase’s Strategic Investment Group, Andreessen Horowitz, and Carlyle‑managed funds, with additional participation from Lightspeed Venture Partners, General Catalyst, Altimeter, Interlagos, Lavrock Ventures, and T. Rowe Price. Castelion’s CEO, Bryon Hargis, formerly of SpaceX, said the new capital will accelerate production of the company’s flagship Blackbeard hypersonic strike missile. “Deterrence depends on unapologetic American strength; highly capable weapon systems that adversaries fear produced in quantities they can’t imagine at a price taxpayers can afford,” he said. "There's a manufacturing renaissance underway, and this round turbocharges American production of Blackbeard. Designed in California, built in New Mexico, supplied from small and large businesses across the United States; Blackbeard is an example...
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Other deals with the navy included advancing Blackbeard toward early operational capability and integration work for deployment aboard the Boeing F/A-18E and F/A-18F Super Hornet.