Castelion's Blackbeard hypersonic missile
WASHINGTON — Castelion, a defense-tech startup seeking to mass produce lower-cost hypersonic weapons, has raised more than $1 billion in new financing as it moves to expand missile production and develop a broader portfolio of offensive and defensive weapons.
The Series C financing announced Aug. 19 includes $800 million in equity and a $250 million committed revolving credit facility. The equity round was co-led by JPMorganChase’s Strategic Investment Group, Andreessen Horowitz and funds managed by Carlyle.
Lightspeed Venture Partners, Lavrock Ventures, Altimeter, General Catalyst and Interlagos also participated, along with new investor T. Rowe Price Associates. Castelion said the financing values the four-year-old startup at $13 billion.
The funding will be used to expand production of Blackbeard, Castelion’s hypersonic strike missile, at its manufacturing complex in Sandoval County, New Mexico, while accelerating work on a longer-range precision strike weapon and defensive systems for air and missile defense.
