Mach Industries, a rising star in the defense technology space, concluded a $79 million Series A round led by Bedrock Capital in a deal that increased its post-money value to $335 million, according to numerous sources, who spoke to TechCrunch.
The figures were confirmed by Koko Xu, the head of growth at Mach Industries, in an email. She also mentioned that the fresh funding came “from Bedrock and other top-tier investors.”
The startup announced its $5.7 million seed round led by Sequoia Capital, the firm’s first investment in defense technology, a mere four months ago. Champion Hill Ventures and 1517 Fund made their first investments in Mach.
Unmanned aerial aircraft, hydrogen generation systems, and other military-grade platforms and armaments are all being developed by Mach. The company, admittedly, is keeping quiet about the specific technology, which is typical for a defense startup. However, the major wager is that field-sourced hydrogen will provide the military with a significant tactical edge.
Mach’s proposal, along with that of numerous other companies collaborating with the Pentagon, represents a paradigm shift in the way the American government has traditionally acquired defensive hardware. Startups aspire to deliver less expensive systems in greater quantities, with the iterative development processes that have been synonymous with Silicon Valley, rather than spending billions of dollars on more elaborate systems with protracted development cycles.
Defense technology has drawn more investors over the past 18 months as multi-unicorn companies like Anduril secure big government contracts and raise enormous sums of money. This would not be Bedrock’s first venture into this sector. Among Bedrock’s additional investments in the defense sector are Anduril, the Austin-based AI startup Modern Intelligence, and the defense technology startup Epirus.
Mach Industries, a defense startup, has recently completed its Series A funding round, securing a noteworthy $79 million in investments. This accomplishment has resulted in a substantial boost to the company’s valuation, now reaching an impressive $335 million. These funds are expected to play a pivotal role in facilitating Mach Industries’ expansion and advancement within the defense sector.
