Mach Industries, a defense tech company founded by 21-year-old Ethan Thornton, is reportedly closing a $100 million funding round co-led by Khosla Ventures and existing investor Bedrock Capital, according to sources familiar with the deal. This new round values the company at approximately $470 million. However, as the deal has not yet closed, terms could still change. Keith Rabois, an investor from Khosla Ventures, is leading the deal.
Mach Industries has gained attention due to its unique founding story and ties to Sequoia Capital. Thornton left MIT as a teenager to establish Mach Industries, which became Sequoia’s first defense tech investment. The company specializes in developing vertical liftoff vehicles and weapons designed for use near the edge of space. Additionally, it focuses on creating smaller, scalable factories to meet increased production demands.
In March, Mach Industries announced its selection by the Army Applications Laboratory to develop a vertical takeoff precision cruise missile named “Strategic Strike.” The company also revealed plans for its first factory, a 115,000-square-foot facility in Huntington Beach, California.
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