Mach Industries hauls in $300M to move on second-generation systems
Divergent and Mach Industries Launch Venom Divergent & Mach Industries photo.
By
Ross Wilkers
The unmanned systems maker has five vehicles under development and wants to do more for military organizations like the Army and Air Force.
Mach Industries, a maker of unmanned and other defense systems, has fetched $300 million in Series C capital from investors to aid efforts in expanding manufacturing capacity and partnerships with military forces.
The company opened for business in 2022 and has five vehicles under development with plans in place to start producing at least three of them this year. In April, Mach Industries acquired solid rocket motor manufacturer Exquandrum in order to gain greater control over SRM supply chains and directly incorporate energetics system development processes.
New investors Infinite Capital and Ribbit Capital led the Series C round announced Tuesday, which values Mach Industries at a touted $1.8 billion. Bedrock Capital, Sequoia Capital and Khosla Ventures are returning investors.
Mach Industries intends to use this new capital to expand its Forge manufacturing network, further advance its propulsion capabilities and move to develop second-generation systems. The company also is looking to expand its work with military organizations such as the Army, Air Force, Special Operations Command and allied forces.
Some examples of platforms made by Mach Industries include Viper, a vertical-takeoff strike vehicle; Glide, a high-altitude glider built to launch weapons; and Stratos, an airborne satellite platform for surveillance.
Mach Industries also manufactures the Dart counter-drone interceptor and Pike, a long-range strike munition.