Mach Industries, a three-year-old defense technology firm, has raised $300 million in a Series C funding round, pushing the company’s valuation to $1.8 billion. The news, reported by TechCrunch, marks a significant growth milestone for the startup, which saw its valuation nearly quadruple from the $470 million mark it hit in June 2025.
Founded in 2023 by MIT dropout Ethan Thornton, the Huntington Beach-based company is focused on the development of autonomous weapons and defense systems. According to the report, the latest investment round was led by Infinite Capital and Ribbit Capital, with participation from existing backers including Bedrock Capital, Sequoia Capital, and Khosla Ventures.
The rapid surge in capital follows a broader trend of increased venture interest in defense technology, fueled by the deployment of autonomous systems and drone defense platforms in modern conflict zones. Thornton, who launched the company at age 19, noted that the fundraising process was highly competitive despite the capital-intensive nature of the defense sector.
“We went out to raise 200 million dollars and we were extremely oversubscribed at 200 and happy with the price, so we decided to push up to 300,” Thornton told TechCrunch. “We’re still oversubscribed at the 300 mark.”
Expanding Autonomous Capabilities
Mach Industries has moved quickly to establish its product pipeline. The company currently has five autonomous vehicles in development, including the Viper, a jet-powered vertical take-off and landing craft. The startup has also bolstered its operational capacity through a recent major acquisition, though specific financial terms of that deal were not disclosed.
Thornton’s transition from academia to leading a billion-dollar defense firm has drawn significant attention from Silicon Valley investors. With this latest infusion of $300 million, the company plans to scale its production capabilities to meet the growing demand for advanced autonomous military equipment.
