Singularity lands $80M at $400M valuation to build cheap drone interceptors
Air defense startup Singularity Defense Corp. formally launched today and announced that it had raised $80 million in new funding at a $400 million valuation to mass-produce low-cost interceptors that can knock down the cheap drones and missiles now common on the battlefield.
Cost is the problem Singularity says it can fix. An interceptor can cost hundreds of thousands of dollars. The drone it takes down might cost a few thousand. Militaries are firing them off faster than they can build replacements and cheap drones have swarmed the fighting in Ukraine and the waters around the Strait of Hormuz.
The interceptors remain in development. Co-founder and Chief Executive Jack Oswald described them only as “much lower cost” than a Patriot battery or a Terminal High Altitude Area Defense system and he declined to share specifications.
“We’re staying pretty damn light on details because we want to go and deploy to two active conflict zones,” Oswald told Axios.
