Funding

Defence Tech Startup Castelion Raises $1 Billion in Series C Funding

Aug 21, 2026 | By Devin Jacobs

SUMMARY

Castelion raised $1B in Series C funding.
The funding will support missile production and manufacturing expansion.
Castelion develops advanced defense technology.

Castelion, a Torrance, CA-based defense technology company, has raised $1 billion in a Series C financing round co-led by JPMorganChase’s Strategic Investment Group, Andreessen Horowitz, and funds managed by Carlyle.

The round, consisting of $800M in equity financing and $250M in committed financing for a revolving credit facility, also saw participation from Lightspeed Venture Partners, Lavrock Ventures, Altimeter, General Catalyst, Interlagos, and T. Rowe Price Associates, Inc.

The company plans to use the capital to scale production of its Blackbeard hypersonic strike missile, expand manufacturing capacity, and develop longer-range strike weapons and defensive systems.

Funding Snapshot

Metric	Details
Fundraise Amount	$1 billion
Equity Financing	$800 million
Committed Financing	$250 million revolving credit facility
Funding Stage	Series C
Valuation	Not disclosed
Company	Castelion
Sector	Defence Technology / Hypersonic Weapons
Headquarters	Torrance, California, USA

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About Castelion

Founded in 2022 by Bryon Hargis, Sean Pitt, and Andrew Kreitz, Castelion develops hypersonic defense technologies with a focus on rapid development, affordability, and scalable manufacturing.

Its flagship Blackbeard missile is designed to be produced at industrial scale and at lower unit costs than traditional approaches. The company has taken the system from initial development to a program of record in less than four years, with fielding targeted for 2027.

Core offerings include:

Blackbeard hypersonic strike missile
Advanced strike weapons
Defensive systems
High-rate defense manufacturing

Core Technologies / Products / Services

Capability/Product	Application/Use Case
Blackbeard	Low-cost, mass-producible hypersonic strike missile
Hypersonic Systems	Advanced high-speed strike capabilities
High-Rate Manufacturing	Supports scalable weapons production

Leadership Comments

"Deterrence depends on unapologetic American strength; highly capable weapon systems that adversaries fear produced in quantities they can't imagine at a price taxpayers can afford," said Bryon Hargis, Co-Founder and CEO of Castelion.

"Castelion is helping to address a critical national security challenge by bringing greater speed, agility and manufacturing capacity to the development of next-generation defense technologies," said Todd Combs, Head of the Strategic Investment Group for JPMorganChase's Security and Resiliency Initiative.

"We backed Castelion when it was a small team that wanted to build what the department of War most needed faster and cheaper than the experts thought possible," said Katherine Boyle, General Partner, Andreessen Horowitz.