Manufacturing, autonomy and space venture rounds to highlight

Machina Labs

This company focused on incorporating artificial intelligence and robotic techniques in manufacturing has captured $124 million in Series C capital to support the development of its first large-scale factory.

Machina Labs opened for business in 2019 to focus on the manufacturing of advanced sheet metal products, key ingredients for the aerospace-and-defense industry in making larger systems.

Machina Labs is pushing toward a model where the finished metal products can be delivered within days versus months or years. The company touts its government portfolio as including contracts with the Air Force’s Research Laboratory and Rapid Sustainment Office.

A bulk of the Series C capital will go toward a new Intelligent Factory, which is being built to house up to 50 cells and produce thousands of complex structural assemblies per year for industry partners.

Lockheed Martin’s venture arm first backed Machina Labs in early 2020 and is returning to the fold again for the Series C round. Other participants included Toyota’s growth-stage venture arm, Woven Capital, Balerion Space Ventures and Strategic Development Fund.

Overland AI

This maker of autonomous ground vehicles and software tools for them has fetched $100 million in new equity capital, a figure that includes a $20 million venture debt facility from TriplePoint Capital.

Overland AI opened for business in 2022 to focus on off-road technology for defense and national security operators, a difficult problem given the environments these vehicles often are in. The company’s OverWatch software works to help one person control fleets of vehicles at once.

Overland AI holds a $2 million contract to outfit the Army’s 1st Cavalry Division with these vehicles. In 2025, Overland AI completed the Defense Advanced Research Projects Agency’s RACER program for evaluating autonomy in complex environments.

8VC led the equity round with continued participation from Point72 Ventures, Ascend Venture Capital, Shasta Ventures and Overmatch Ventures. StepStone Group and Valor Equity Partners are new investors entering the fold.

In January, Overland AI secured $32 million in Series A capital to support the development of its software.

Skyryse

This developer of aviation automation and flight control software has collected $300 million in Series C capital to aid its pursuit of a key Federal Aviation Administration flight certification and continue development the operating system.

Skyryse opened for business in 2016 and developed a prototype of its flagship SkyOS system within its first year, which deployed on a helicopter used by law enforcement and first response officials in Tracy, California.

SkyOS has also been implemented on an Army Black Hawk helicopter, which the company touts as a key use case given how unstable these vehicles are versus airplanes. Skyryse designed its OS to replace mechanical flight controls with an integrated system that helps pilots simplify how they manage aircraft.

With this raise, Skyryse touts its valuation as exceeding $1 billion. Autopilot Ventures and returning investor Fidelity Management & Research Company led the Series C round.

Other named participants included ArrowMark Partners, Atreides Management LP, BAM Elevate, Baron Capital Group, Inc., Durable Capital Partners, Positive Sum, Qatar Investment Authority, RCM Private Markets Fund managed by Rokos Capital Management (US) LP and Woodline Partners.

Tomorrow.io

This weather satellite builder has hauled in $175 million in equity financing to accelerate its work on developing a new constellation to rely on artificial intelligence techniques in gathering large amounts of atmospheric data.

Tomorrow.io opened for business in 2016 and has launched 13 satellites to-date as part of its push to provide real-time atmospheric intelligence to government and commercial users. The company has also worked on scaling an AI intelligence platform to complement that constellation, which counts 250 government and commercial organizations as users.

Much of the new equity funding will go toward DeepSky, which Tomorrow.io is touting as the world’s first AI-native weather satellite constellation and key in efforts to expand the AI platform.

Stonecourt Capital and HarbourVest led the financing round, which was closed roughly five years after Stonecourt first invested in Tomorrow.io..

Goldman Sachs acted as exclusive financial adviser to Tomorrow.io for the financing round, while Goodwin Procter LLP was legal counsel.