Article excerpt
Hadrian has raised $1.37 billion in Series D equity financing to build additional highly automated factories and expand production of critical U.S. defense, aerospace and industrial systems. The financing values the advanced manufacturing company at $7.87 billion. The round was co-led by WCM Investment Management, Washington Harbour Partners, Valor Equity Partners, 137 Ventures and Baillie Gifford. JPMorganChase’s Strategic Investment Group joined as an anchor co-lead through the firm’s Security and Resiliency Initiative, which invests in industries considered important to U.S. national and economic security. The round also included significant participation from 1789 Capital, along with Morgan Stanley Wealth Management, funds managed by Apollo, accounts advised by T. Rowe Price Associates, CapitalG, Andreessen Horowitz, Founders Fund, Lux Capital, Altimeter and Construct Capital. Existing investors also participated. Hadrian will use the funding to open new factories, expand research and development, and add production capabilities as it works to manufacture complete mission-critical systems at greater speed and scale. The company operates highly automated factories that combine software, artificial intelligence, robotics and process engineering. Hadrian initially focused on producing precision components but is expanding its platform to deliver more complete systems for...
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Extracted from this sentence
Over the next year, Hadrian plans to open additional factories and launch new production lines focused on areas including munitions and autonomous systems.