Mach Industries, the three-year-old defense tech startup run by 22-year-old founder and CEO Ethan Thornton, has raised a $300 million Series C at a $1.8 billion valuation, the company announced on Monday.
The raise nearly quadruples the valuation of the company in a year. In June 2025, Mach raised $100 million at a $470 million valuation. It has now raised about $485 million total from investors, including Bedrock Capital, Sequoia Capital, and Khosla Ventures.
The round was led by deep-tech fund Infinite Capital and Ribbit Capital, known for fintech and lately in hot deals everywhere — from AI coding startups like Cognition to neoclouds like Crusoe.
Since building autonomous weapons is a capital-intensive industry, Thornton began actively fundraising a couple of months ago, he told TechCrunch, and quickly discovered that the round would be popular with investors.
“We went out to raise 200 [million dollars] and we were extremely oversubscribed at 200 and happy with the price, so we decided to push up to 300. We’re still oversubscribed at the 300 mark,” Thornton said of the fundraising efforts.
