Mach Industries, a defense technology startup founded by 22-year-old Ethan Thornton, has raised $300 million in a Series C funding round. Following this financing round, the company's market valuation reached $1.8 billion. This is nearly four times higher than last year's figure—in June 2025, the company was valued at $470 million. This is reported by Techcrunch.com .
This investment round was led by Infinite Capital and Ribbit Capital. Major investors such as Bedrock Capital, Sequoia Capital, and Khosla Ventures also participated in the project. According to Mach Industries founder Ethan Thornton, developing autonomous weapons systems requires significant capital, which is why the company initially planned to raise $200 million, but due to high investor interest, this amount was increased to $300 million.
Founded in 2023, Mach Industries is currently working on five autonomous vehicles: Viper (a VTOL jet aircraft), Glide (a high-altitude glider), Stratos (an aerial surveillance platform), Dart (a low-cost anti-drone interceptor), and Pike (a long-range munition launcher). The company plans to begin production of at least three of these systems next year.
Furthermore, the startup recently signed a new contract with the US Department of Defense (Pentagon). Under an agreement with the Defense Innovation Unit (DIU), the company will develop a large strike aircraft for the Navy that does not require a runway. This project may also be used for commercial purposes in the future.
Currently, the Mach Industries team consists of over 350 employees. The company has a manufacturing plant covering more than 10,000 square meters in Huntington Beach, California, as well as design and engineering centers in other regions. Ethan Thornton dropped out of MIT (Massachusetts Institute of Technology) at age 19 to found this startup.
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