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The round will fund expanded production of the Blackbeard hypersonic missile and development of longer-range strike and defensive weapons
RONAN LIETAR / Getty Images
Castelion announced a $1 billion Series C fundraise on Wednesday, valuing the hypersonic missile startup at $13 billion. Of that total, $800 million takes the form of equity and the remaining $250 million is structured as a revolving credit facility.
The equity raise was jointly anchored by JPMorganChase's Strategic Investment Group, Andreessen Horowitz, and Carlyle-managed funds. Additional participants included Lightspeed Venture Partners, Lavrock Ventures, Altimeter, General Catalyst, and Interlagos, with T. Rowe Price $TROW Associates joining as a first-time backer, the company said.
