Mach Industries, a fast-growing defense technology startup founded in 2023, has secured $100 million in new funding at a $470 million valuation.
The round was co-led by Keith Rabois of Khosla Ventures and Geoff Lewis of Bedrock Capital, with additional backing from Sequoia. This funding brings Mach’s total raised to approximately $185 million.
Rapid growth and ambitious product lineup
Founded by former MIT student Ethan Thornton at the age of 19, Mach Industries has grown from 20 to 140 employees in under two years. The company has developed a trio of advanced weapons systems:
- Stratos: A high-altitude satellite drone for communications and sensing
- Viper: A lightweight, jet-powered VTOL drone requiring no runway
- Glide: A high-altitude glider capable of precision strikes from the edge of the atmosphere
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From plywood desks to Pentagon contracts
Mach’s journey began modestly, with the founders hand-building office furniture in Cambridge, Massachusetts. Today, they operate a 115,000-square-foot factory in Huntington Beach, California, and hold contracts with the U.S. Army Applications Laboratory to develop precision cruise missiles.
Next phase: manufacturing expansion and R&D
The fresh capital will go toward scaling production and accelerating R&D efforts — including a secret propulsion project still under wraps. Thornton noted the strategic importance of building modern weapons aligned with evolving warfare, citing recent AI-powered combat use cases like Ukraine’s drone attacks.
Backed by major VCs, guided by national defense
Thornton emphasized that Mach Industries work remains tightly integrated with U.S. defense agencies: “We’re in direct contact with the State Department, the Department of Defense, and congressional members.”
The latest round reflects continued investor interest in next-gen defense startups, even as valuations level off across the sector.
