Mach Industries is a fast-growing defense technology startup founded by 21-year-old Ethan Thornton. While terms remain undisclosed, sources familiar with the matter tell us that the company will be guaranteeing at least $100 million of financing. The round was co-led by Khosla Ventures and Bedrock Capital. This investment will increase the company’s cumulative funding to nearly $185 million and its valuation to nearly $470 million.
After leaving the Massachusetts Institute of Technology (MIT), Thornton started Mach Industries to pursue his vision. The firm designs next-gen, long-range vertical liftoff vehicles and aerial weapons systems that can launch, relaunch and operate from the high frontier. The startup has garnered a great deal of buzz for its disruptive model for defense tech. It further cranked the historic levers by becoming the very first defense tech investment from renowned investor Sequoia Capital.
That last round of financing is a key turning point for Mach Industries as it gets ready to ramp up and increase its production capabilities. And it recently named Huntington Beach, California, its home base, as the site of its first manufacturing factory—a 115,000-square-foot production space. This new site will be instrumental in the creation of its innovative and technologically advanced defense systems.
Mach Industries has a real whopper in its portfolio of projects: the “Strategic Strike.” This vertical takeoff long-range precision strike cruise missile was recently selected for further development by the Army Applications Laboratory. The project illustrates the firm’s dedication to producing complex solutions that address today’s defense industry challenges.
Keith Rabois, an investor from Khosla Ventures, is leading this new round. He’s convinced Mach Industries can be the company that changes the game in the defense sector. The early stage company is definitely turning heads. Under a new, visionary leader at the helm, it’s poised to do more groundbreaking work than ever before and continue to stay in the field’s vanguard.
As Mach Industries continues its growth journey, they’re doing so with noteworthy ambition. Thornton’s youthful energy, innovative spirit and M&A strategy have really helped the company stand out from the competitive pack. Mach Industries has deep pockets to fund their adventures. Combined with their cutting-edge technology, this makes them a serious threat to disrupt the defense market.
Leave a Reply