Mach Industries, the defense tech established by 21-year-old Ethan Thornton, is about to close a fresh $100 million in funding co-led by brand-new investor Khosla and existing financier Bedrock Capital, a source familiar with the deal tells A Technology NewsRoom.The new round will value the company at around $470 million, according to the source.
The offer hasnt closed and terms may still alter.
The Khosla investor leading the deal is Keith Rabois.Mach Industries is a buzzy defense tech startup, a status moved by its starting origin story and connection to Sequoia.
Thornton was just a teen when he dropped out of MIT to found Mach Industries, which was Sequoias initially defense tech investment.Mach is developing vertical liftoff lorries and weapons that can work from the edge of space.
It is likewise developing smaller sized factories that can be easily built and distributed when more production is needed.In March, Mach revealed it was selected by the Army Applications Laboratory to establish a vertical departure precision cruise missile it calls Strategic Strike.It also announced prepare for its first factory, a 115,000-square foot-facility in Huntington Beach, California.This brand-new financing ought to bring the start-ups amount to funding to about $185 million, to date.
Sequoia led Machs $5.7 million seed round, which was announced in June 2023.
Geoff Lewis, creator of Bedrock Capital, led Machs $79 million Series A round a few months later.Techcrunch eventBerkeley, CA|June 5BOOK NOW