Mach Industries Raises $300M in Series C Funding at $1.8 Billion Valuation

The round also saw participation from Bedrock Capital, Sequoia Capital, and Khosla Ventures. The company is valued at $1.8 billion.

The company plans to use the funding to support existing government programs, hire additional engineering talent, develop its next-generation systems, and expand its manufacturing and propulsion capabilities.

Mach Industries develops advanced defense systems designed to help the United States and its allies maintain a technological advantage. As drone warfare and autonomous military systems become more common, the company is focused on building and delivering new defense technologies quickly and at scale to meet evolving security needs.

Recently, Mach Industries acquired Exquadrum, which has been renamed Mach Energetics. The acquisition adds Exquadrum's engineering team, manufacturing facilities, testing infrastructure, and energetics technology to Mach Industries.

This expansion strengthens the company's ability to develop, test, and manufacture products in house, allowing for faster product improvements, increased testing capacity, and quicker delivery of defense systems. It also supports Mach Industries goal of building a more independent and vertically integrated production network.

Over the past year, Mach Industries has expanded significantly and now operates five active defense programs: Viper, a jet-powered vertical takeoff vehicle; Glide, a high-altitude strike glider; Stratos, an airborne surveillance platform; Dart, a low-cost counter-drone interceptor; and Pike, a long-range strike munition. The company expects at least three of these systems to enter production this year.

To support its growth, Mach Industries has added experienced leaders in engineering, operations, and government relations. These additions are helping the company scale manufacturing, advance product development, and support long term strategic goals as it moves from rapid development into large scale production and deployment.

"At Ribbit, we partner with teams disrupting the status quo, who see the cracks before anyone else and have the conviction to build something better," said Micky Malka, Founder of Ribbit Capital. "Ethan and the Mach team are building with urgency, increasingly controlling their supply chain, and refusing to wait for incumbents to catch up. They combine technical depth, execution speed, and a strong sense of duty to country. We're proud to co-lead this Series C as they build a defining company."

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"Today's Series C funding is a powerful accelerator for our mission," said Founder, and CEO Ethan Thornton. "We are delivering advanced unmanned systems at the pace the threat environment demands, and we're grateful to our investors for believing in our ability to strengthen American and allied superiority on the battlefield."

"Mach will be vital to the safety and future of free societies," said Nathan Doctor, Founder of Infinite Capital. "As an outlier in defense innovation, Mach has proven with unprecedented speed to flight, production trajectory, and contract success that rebuilding America's industrial base is of prime importance. The team's mission-first ethos drives this strategy with urgency and operational discipline."

About Mach Industries

Founded in 2023 by Ethan Thornton, Mach Industries is a defense manufacturing company based in Huntington Beach, California. The company develops advanced unmanned defense systems and the manufacturing capabilities needed to produce them at scale. By combining weapons development, propulsion technology and manufacturing under one organization, Mach aims to deliver defense systems quickly, and efficiently to support the security needs of the United States and its allies.

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