Mach Industries announces another USD600 million in Series C funding

Mach Industries' Viper vertically launched one-way attack drone. (Mach Industries)

Mach Industries has announced a USD600 million continuation of its Series C financing. This is in addition to an initial USD300 million Series C raise that the company disclosed in June.

The latest raise increases the company's valuation to USD3.7 billion and “provides additional capital to accelerate the company's next phase”, according to a Mach Industries statement on 10 September.

“Mach was not planning to initiate a new fundraising cycle at this point, but investor enthusiasm and market opportunities aligned in a way that made it logical to expand the scope of the Series C rather than spin up a new round,” the company told Janes on 9 September.

“The financing will support continued development of platforms across long-range strike, counter-UAS [unmanned aerial systems], and other mission areas, while expanding the manufacturing infrastructure required to produce them at scale,” the statement said.

“The funding will primarily support Mach's existing portfolio and the industrial base behind it,” Mach Industries told Janes. “A significant focus is continued investment in our propulsion and energetics programs, which gives us greater control over critical components, strengthens the supply chain, and supports our platforms across long-range strike, counter-UAS, and other mission areas,” the company said.

Mach Industries emphasised that its platforms are “developed around the current and evolving needs of the US military and its allies”.

“A core focus of the financing is accelerating the transition of existing platforms into full-scale production and ultimately into the field,” the company told Janes. This includes investing in manufacturing capacity and propulsion and energetics to “reduce supply chain constraints and increase the speed and volume at which we can produce and deliver”, the company said.