Castelion raises $1 billion in Series C funding to accelerate production of low-cost hypersonic strike missiles.
Castelion, a defense technology startup founded by former SpaceX executives, secured $1 billion in Series C funding to scale the production of its Blackbeard hypersonic strike missile. The funding round, which values the company at $13 billion, was co-led by Andreessen Horowitz, Carlyle, and JPMorgan Chase. This capital will be used to maximize production rates for the Blackbeard missile, which is designed for industrial-rate output and commercial unit costs. The startup aims to establish a manufacturing renaissance by producing hypersonic weapons at faster speeds and lower costs than traditional defense primes. Castelion has already secured over $500 million in U.S. military contracts. The new investment includes $800 million in equity and a $250 million revolving credit facility. The company will utilize the funds to expand its product portfolio to include longer-range strike weapons and defensive systems. Castelion is headquartered in Torrance, California, with manufacturing facilities in New Mexico, Texas, and California.