Defense startup Mach Industries raises $600M amid manufacturing push
Mach Industries Inc. has raised $600 million in funding to expand its manufacturing capacity.
The investment, which was announced today, extends a Series C round that the company closed in June. That deal included the participation of Ribbit Capital, Infinite Capital, Bedrock Capital, Sequoia and others. The four venture capital firms also backed Mach Industries’ latest raise.
Mach Industries offers a lineup of autonomous aircraft designed to be produced in large numbers. The company’s first product, Viper, is the fruit of a product development contract that it won from the U.S. Army last March. It’s a drone that takes off vertically without the launch infrastructure usually needed for the task.
Viper is powered by a turbojet engine. Such engines work by ingesting air from the atmosphere and compressing it using spinning blades. A different part of the engine heats the air in conjunction, which causes it to exit the exhaust at high speed.
