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Castelion Raises $1 Billion Series C to Scale Production of Low-Cost Hypersonic Weapons

CG
  • Castelion secured a $1 billion Series C funding round valued at $13 billion to accelerate Blackbeard hypersonic missile production & expand its product portfolio.
  • The financing package combines $800 million in equity & $250 million in committed revolving credit facility funds.
  • Equity investors co-led by JPMorganChase's Strategic Investment Group include Andreessen Horowitz & Carlyle, with participation from Lightspeed Venture Partners, Lavrock Ventures, Altimeter, General Catalyst, Interlagos, & T. Rowe Price Associates.
  • The company has secured over $500 million in U.S. military contracts in the past 18 months & moved Blackbeard from a clean sheet to a program of record in under four years.
  • Fielding of the Blackbeard missile is targeted for 2027 with production centered at the 1,000-acre Project Ranger site in New Mexico.
  • Funding will be used to increase manufacturing capacity at the New Mexico facility, develop a new longer-range precision strike weapon, & create defensive systems.
  • Blackbeard is designed for industrial-rate output & commercial unit costs while leveraging technologies for lower-cost, higher-production air & missile defense missions.