Mach Industries, a defence technology startup founded by 21-year-old Ethan Thornton, is nearing completion of a $100 million financing round led by new investor Khosla and current backer Bedrock Capital, as reported by TechCrunch. This investment would value Mach Industries at approximately $470 million, pending finalisation of the terms.
The company has quickly garnered attention, particularly due to Thornton’s remarkable background. He dropped out of MIT to establish Mach, which earned the distinction of being Sequoia Capital’s inaugural investment in defence technology. The startup focuses on developing advanced vertical lift vehicles and state-of-the-art weapons systems designed to operate at the edge of space. Furthermore, Mach Industries plans to construct modular factories that can be rapidly deployed to meet production demands.
In March, the startup announced its selection by the Army Applications Laboratory to create a precision cruise missile known as the “Strategic Strike,” signifying its ambitions within the sector. Additionally, it revealed plans for its first manufacturing facility, a large-scale 115,000-square-foot site located in Huntington Beach, California.
If the current funding round is successfully completed, Mach Industries will have raised a total of about $185 million to date. This follows a significant $5.7 million seed round led by Sequoia in June 2023, and a subsequent $79 million Series A round led by Geoff Lewis of Bedrock Capital a few months later.
With this ongoing support, Mach Industries is positioning itself as a significant player in defence technology, blending innovation with practical military applications to meet modern defence needs.
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