Rising star defense tech startup Mach Industries is raising $100 million, sources say

Mach Industries, the defence tech founded by 21-year-old Ethan Thornton, is astir to adjacent a caller $100 cardinal successful financing co-led by caller capitalist Khosla and existing capitalist Bedrock Capital, a root acquainted with the woody tells TechCrunch.

The caller circular volition worth the institution astatine astir $470 million, according to the source. However, the woody hasn’t closed and presumption whitethorn inactive change. The Khosla capitalist starring the woody is Keith Rabois.

Mach Industries is simply a buzzy defence tech startup, a presumption propelled by its founding root communicative and transportation to Sequoia. Thornton was conscionable a teen erstwhile helium dropped retired of MIT to recovered Mach Industries, which was Sequoia’s archetypal defence tech investment.

Mach is processing vertical liftoff vehicles and weapons that tin enactment from the borderline of space. It is besides processing smaller factories that tin beryllium easy built and distributed erstwhile much accumulation is needed.

In March, Mach announced it was selected by the Army Applications Laboratory to make a vertical takeoff precision cruise rocket it calls “Strategic Strike.” It besides announced plans for its archetypal factory, a 115,000-square foot-facility successful Huntington Beach, California.

This caller backing should bring the startup’s full backing to astir $185 million, to date. Sequoia led Mach’s $5.7 cardinal effect round, which was announced successful June 2023. Geoff Lewis, laminitis of Bedrock Capital, led Mach’s $79 cardinal Series A round a fewer months later.