Castelion Secures $1B at $13B Valuation to Scale Hypersonic Missile Production

Castelion, a defense technology startup focused on manufacturing low-cost hypersonic weapons, announced on August 19 a $1 billion Series C funding round, valuing the company at $13 billion. The financing was led by Andreessen Horowitz, Carlyle, and JPMorgan Chase's Strategic Investment Group and will accelerate the production of its flagship missile and expand its product portfolio.

The funding round comprises $800 million in equity financing and a $250 million committed revolving credit facility. Existing investors Lightspeed Venture Partners, Lavrock Ventures, Altimeter, General Catalyst, and Interlagos also participated, alongside new investor T. Rowe Price Associates. The capital will primarily scale up manufacturing of Castelion's Blackbeard hypersonic strike missile and fund the development of a longer-range precision strike weapon and next-generation air and missile defense systems.

Blackbeard is Castelion's first product, having progressed from a clean-sheet design to a U.S. government program of record in under four years. The company has secured more than $500 million in U.S. military contracts over the past 18 months, with the U.S. Navy emerging as a key customer....