Defense tech startup Mach Industries has raised a fresh $600 million in capital in a Series C extension round that has doubled its valuation to $3.7 billion, the company announced on Thursday. It announced the original Series C in June, which was $300 million at a $1.8 billion valuation. Investors in both tranches include Ribbit Capital, Infinite Capital, Bedrock Capital, and Sequoia.
That means that this raise represents a two-fold jump in just three months. The previous round was also a big increase: quadruple the valuation of a $100 million round at a $470 million valuation, announced in June 2025.
Mach manufactures a variety of unmanned military vehicles and weapons, including vertical takeoff and landing drones, systems intended for long-range strikes, and counter-drone systems. It operates a 115,000-square-foot manufacturing facility at its headquarters in Huntington Beach, California, with additional facilities located across the state.
Its pitch is that it builds highly integrated systems that cost less than those from incumbent defense contractors. To that end, it acquired solid rocket motor (SRM) startup Exquadrum in a $50 million cash-and-equity deal in May, beating out at least eight other potential buyers, the startup said.
