Mach Industries, a burgeoning defense technology company founded by 21-year-old Ethan Thornton, is set to close a significant financing round of $100 million. This investment was co-led by Khosla Ventures and Bedrock Capital. With their support, Mach Industries’ total funding now stands at nearly $185 million, raising the company’s valuation to an estimated $470 million.
Thornton started Mach Industries after taking the audacious step of leaving the Massachusetts Institute of Technology (MIT). Today, the company is in the news for a very different reason – its audacious initiatives. The company has developed the most advanced vertical liftoff vehicles. It produces more unconventional weapons systems—namely, precision munitions that can launch from the edge of space. These next-generation technologies have attracted significant attention from investors, but perhaps even more so, from military organizations.
Mach Industries just got a huge stamp of approval for its skills. Creating the “Strategic Strike” The Army Applications Laboratory selected the company to further develop and design a vertical takeoff precision strike cruise missile. This project showcases the firm’s emphasis on merging cutting-edge aerospace techniques with defense efforts.
Moving into this next stage of their company’s growth, the recent financing provides Mach Industries the fuel to accelerate its efforts. Keith Rabois, a prominent investor at Khosla Ventures, is one of those leading this funding endeavor. With Rabois’s involvement, this highlights a larger trend of recognition that these defense tech startups could be key players in the evolving national security landscape.
Mach Industries has recently unveiled plans for its first manufacturing hub, a 115,000-square-foot factory in Huntington Beach, California. This expansion will allow the company to significantly increase downstream production capacity. It will do wonders to advance its mission to bring innovation into the defense sector.
After a small first few weeks, Mach Industries has already rocked the investment community. It was Sequoia Capital’s first investment in defense technology, indicating strong confidence in Thornton’s vision and the potential impact of his company on the industry.
As Mach Industries gets ready to take advantage of this new funding, it’s putting itself in line to be one of the leaders in the innovation of defense technology. The company has some other ambitious projects in the works and strategic partnerships that they’re pursuing. Its ambition is to change the game in unmanned aircraft and near-space munitions.