UK defence technology startup Cambridge Aerospace has raised $300m at a $3.4bn valuation, a significant uplift on its valuation just a few months ago.
The Series C funding round in the counter-drone startup was led by US investor DFJ Growth and supported by Lux, Accel, Lakestar, Never Lift, Ora Global and Elad Gil.
The new funding in Cambridge Aerospace, which was founded less than two years ago, follows its $200m Series B at a $1.3bn valuation in April this year.
Founded in 2024 in Cambridge, UK-headquartered Cambridge Aerospace builds defence technology. Its key products include drone interceptor Skyhammer, missile interceptor Starhammer, which is coming to market next year, and radar system Looking Glass. The startup has bagged several contracts with the UK’s Ministry of Defence, including a multi-million-pound contract to supply Skyhammer to the UK Armed Forces.
The startup’s CEO is former MIT researcher Steven Barrett, who is now based at Cambridge University. The startup says it will use the funds to boost its manufacturing capabilities to deliver on existing and new contracts, while continuing to invest in the development of existing products and bringing new products to market.
