Top Defense Tech Deals
From Saronic's $1.8B Series D to Shield AI's $1.5B round, defense-tech is seeing unprecedented capital inflows. See the top deals driving the industry.
- 01Artificial Intelligence (AI) • Data and Analytics•Texas$1.8BSeries D
Saronic, an autonomous maritime systems company, raised $1.75B Series D at a $9.25B valuation led by Kleiner Perkins and including Advent International, Bessemer Venture Partners, DFJ Growth, BAM Elevate, 8VC, Caffeinated Capital, Andreessen Horowitz, Elad Gil, and Franklin Templeton
- 02Artificial Intelligence (AI) • Consumer Electronics•California$1.5BSeries G
Shield AI, a venture-backed deep-tech defense autonomy company, raised $1.5 billion in Series G and $500 million in fixed-return preferred equity (total $2.0 billion) at a $12.7 billion post-money valuation led by Advent International and co-led by JPMorganChase’s Strategic Investment Group, with participation from Snowpoint Ventures, Innovation X Advisors, Riot Ventures, Disruptive, Apandion, and funds managed by Blackstone.
- 03Government and Military • Manufacturing•Massachusetts$550MEquity
Vulcan Elements, a domestic rare earth magnet manufacturer, secured a $1.4 billion partnership financing package with the United States Government and ReElement Technologies.
- 04Government and Military • Information Technology•California$510MSeries D
Defense-tech startup CHAOS Industries raised $510 million in new funding led by Valor Equity Partners with participation from 8VC and Accel.
- 05Government and Military • Information Technology•California$350MSeries B
Castelion, a hypersonic weapons manufacturer, raised a $350 million Series B led by Altimeter Capital and Lightspeed Venture Partners with participation from Lavrock Ventures, Andreessen Horowitz, General Catalyst, First In, Space VC, Cantos, BlueYard, Avenir, Champion Hill, and Interlagos.
- 06Government and Military • Information Technology•California$200MSeries C
Hermeus, a defense aviation company developing high-Mach unmanned aircraft, raised $350 million in a Series C at a $1 billion post-money valuation led by Khosla Ventures with continued support from Canaan Partners, Founders Fund, RTX Ventures, Bling Capital, In-Q-Tel and new investors including Cox Enterprises/Socium Ventures, Destiny Tech100, Georgia Tech Foundation, 137 Ventures and GSBackers, with debt provided by Silicon Valley Bank (a division of First Citizens Bank), Pinegrove Venture Partners, Hercules Capital and Trinity Capital.
- 07Government and Military • Information Technology•Hawaii$200MSeries D
Military command OS startup Onebrief raised a $200 million Series D round—led by Battery Ventures and Sapphire Ventures with participation from Salesforce Ventures, General Catalyst, and Insight Partners—at a $2.15 billion valuation and simultaneously acquired Battle Road Digital.
- 08Artificial Intelligence (AI) • Data and Analytics•Ile-de-France$200MSeries B
Defense-tech startup Harmattan AI raised a $200 million Series B led by Dassault Aviation.
- 09
Artificial Intelligence (AI) • Data and Analytics•California$150MEquityGovini, an AI-powered defense acquisition software company, raised a $150 million growth investment from Bain Capital.
- 10Apps • Artificial Intelligence (AI)•Colorado$136MSeries B
Air-gap defense software startup Defense Unicorns raised a $136 million Series B led by Bain Capital with participation from Ansa Capital, Sapphire Ventures, Valor Equity Partners, AVP, Uncorrelated Ventures, and David H. Petraeus.
- 11Government and Military • Information Technology•Alabama$110MSeries B
PDW, an American drone company, raised over $110M in a Series B led by Ondas with participation from Hood River, Cedar Pine, Hanwha Asset Management's venture fund, Booz Allen Hamilton and other existing and new investors.
- 12Government and Military • Hardware•Colorado$100MSeries E
Ursa Major, an aerospace-propulsion startup, raised a $100 million Series E round led by Eclipse with participation from Woodline Partners, Principia Growth, XN, and Alsop Louie Partners, and secured an additional $50 million in debt commitments.
- 13Energy • Government and Military•California$100MSeries B
Advanced-materials startup Cambium raised a $100 million Series B led by 8VC with participation from MVP Ventures, Lockheed Martin Ventures, GSBackers, Veteran Ventures Capital, J17 Ventures, Vanderbilt University, Alumni Ventures, Gaingels, Inevitable Ventures, JACS Capital, Jackson Moses, and other investors.
- 14Government and Military • Information Technology•District of Columbia$54MSeries A
Valinor Enterprises, a defense technology holding company, raised a $54 million Series A round led by Friends & Family Capital with participation from General Catalyst, Founders Fund, Red Cell Partners, Narya, XYZ Venture Capital and Fifth Down Capital.
- 15Government and Military • Hardware•Delaware$50MSeed
UForce, a defense-tech startup, raised a $50 million seed round led by Shield Capital and Lakestar, with participation from Ballistic Venture.
- 16Government and Military • Hardware•Noord-Holland$47.5MSeed
Onodrim Industries, a European defence-tech startup, raised a €40 million seed round led by Founders Fund, Lakestar, and General Catalyst.
