Hadrian Raises $1.37B From Series D Co-Led by Washington Harbour Partners
Article excerpt
Los Angeles-based Hadrian, a U.S. advanced manufacturing company focused on defense and aerospace production, has raised $1.37 billion in Series D financing co-led by WCM Investment Management, Washington Harbour Partners, Valor Equity Partners, 137 Ventures, and Baillie Gifford. The financing also saw the participation of 1789 Capital, Morgan Stanley Wealth Management, funds managed by Apollo, accounts advised by T. Rowe Price Associates, CapitalG, Andreessen Horowitz, Founders Fund, Lux Capital, Altimeter, Construct Capital, and existing investors. The round values Hadrian at $7.87 billion as it accelerates expansion of its automated factory network. The company says the new capital will fund new manufacturing facilities, research and development, and additional production capabilities designed to address growing demand for domestic manufacturing of mission-critical defense, aerospace, and industrial systems. Hadrian develops highly automated manufacturing facilities that produce precision components and assemblies for aerospace and defense customers, including companies involved in rockets, satellites, aircraft, and naval systems. The company combines software, robotics, and vertically integrated manufacturing to increase production efficiency and reduce costs for customers. “America’s ability to lead will depend on whether we can build, train, and scale faster...
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Since its $260 million Series C, Hadrian has expanded its manufacturing footprint with a 270,000-square-foot factory in Mesa, Ariz., added a new headquarters to support workforce growth, launched its Hadrian Maritime division to serve naval production, and introduced a Factory-as-a-Service model that enables customers to outsource production of complete systems rather than individual components.
