Castelion, Founded by Former SpaceX Executives, Raises $1 Billion Series C at $13 Billion Valuation
Castelion, a hypersonic weapons maker founded in 2022 by former SpaceX executives, has closed a $1 billion Series C round at a $13 billion valuation. The round was co-led by Andreessen Horowitz, Carlyle Group and JPMorgan, with participation from existing investors Lightspeed, General Catalyst and Altimeter. Funding comprises $800 million in equity and a $250 million revolving credit facility. The company has secured over $500 million in US military contracts and will use the capital to accelerate production at its New Mexico facility.
Castelion announced the completion of a $1 billion Series C funding round, valuing the company at $13 billion. The round was co-led by Andreessen Horowitz, Carlyle Group and JPMorgan, with participation from existing investors Lightspeed, General Catalyst and Altimeter. The funding consists of $800 million in equity and a $250 million revolving credit facility.
Founded in 2022 and headquartered in Torrance, California, Castelion focuses on manufacturing hypersonic weapon systems at lower cost and faster speed than traditional defense contractors. Since its inception, the company has secured more than $500 million in US military contracts.
The company plans to use the new capital to accelerate production at its facility in New Mexico. Its core products include the Blackbeard missile, named after the English pirate, along with other hypersonic weapon systems.
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