U.S.-based defense startup Mach Industries has raised another $600 million as it begins to build its autonomous weapons at scale. The new investment is a continuation of Mach’s Series C and values the three-year-old company at $3.7 billion. Ribbit Capital, Infinite Capital, Bedrock Capital, and Sequoia are in the round.
Mach’s trajectory has been particularly impressive. The company raised a $5.7 million seed round in 2023 led by Sequoia, followed only months later by a $79 million Series A at a $335 million valuation. In June 2025, it raised another $100 million at a $470 million valuation. By June 2026, that figure had jumped to $1.8 billion following a $300 million Series C. $3.7 billion. Investors have funded the company to the tune of $900 million thus far and it is now valued at $3.7 billion.
The money is going toward factories rather than just new weapons. Mach operates a 115,000-square-foot headquarters and manufacturing facility in Huntington Beach, California, alongside other propulsion and production operations. The company says it is building much of its supply chain itself and will be producing jet engines and propulsion systems alongside explosives. The company recently acquired a rocket motor startup called Exquadrum for $50 million.
The company was founded by 22-year-old Ethan Thornton, an MIT dropout who convinced Sequoia to make its first defence investment. The fact that this company rose to prominence so quickly is a testament to the power Silicon Valley has to launch companies, even ones run by founders barely old enough to drink, into the valuation stratosphere.
Rather than design a drone or missile and depend on a collection of outside suppliers to build it, the company wants control over the parts that determine how quickly a weapon can actually move into production. Its Forge manufacturing network is based around flexible factories that can be changed to produce different defense systems and components.
Mach now has five major vehicle programs. Viper is a jet-powered vertical-takeoff one-way attack aircraft. Glide is a high-altitude strike glider. Stratos is an airborne surveillance platform. Dart is a low-cost counter-drone interceptor, while Pike is a long-range strike munition intended for mass production. In June, Mach said it expected at least three of those systems to begin production during 2026.
“Modern deterrence requires an industrial base capable of building relevant capabilities at the speed and volume the mission demands,” said Thornton. “This investment allows us to continue expanding that capacity while moving new platforms from development into production faster.”
