Mach Industries, a Huntington Beach, California company that builds autonomous weapons and the factories to produce them, raised $600m as a continuation of its Series C, it announced on September 10, 2026. The deal valued the company at $3.7bn.
Ribbit Capital, Infinite Capital, Bedrock Capital and Sequoia took part, along with other investors the company did not name. Mach did not name a lead investor for the extension.
The new money came about three months after Mach announced a $300m Series C at a $1.8bn valuation in June. TechCrunch reported that the extension doubled the company's valuation and took the Series C to $900m in total.
“Modern deterrence requires an industrial base capable of building relevant capabilities at the speed and volume the mission demands.”Ethan Thornton, Founder and CEO, Mach Industries
Why the round grew
A Mach spokesperson told Tectonic that after the Series C closed, the company "saw significant additional investor enthusiasm alongside new market opportunities", which gave it the chance to expand the round beyond its original size. Tectonic reported that the backers of the June round returned for the extension.
According to Tectonic, the extension brings Mach's total funding to more than $1bn and marks an eightfold rise in its valuation in just over a year. In June 2025 the company raised $100m at a $470m valuation, TechCrunch reported.
What Mach Industries builds
Mach develops unmanned systems for the US military and its allies, focusing on long-range strike and counter-drone weapons. TechCrunch said its pitch is that tightly integrated systems can cost less than those from established defence contractors. Tectonic listed products including Viper, a turbojet-powered vertical take-off one-way attack drone; Dart, a low-cost interceptor for small and mid-sized drones; and Atlas, a large unmanned aircraft with a 40-foot wingspan.
The company operates a 115,000-square-foot headquarters and factory in Huntington Beach, with more propulsion, energetics and production sites elsewhere in California. It makes airframes, jet engines, solid rocket motors and energetic materials in-house. Through Mach Propulsion and Mach Energetics it also sells components to other companies. Mach Energetics grew out of the May 2026 acquisition of solid rocket motor maker Exquadrum for $50m in cash and equity, according to TechCrunch.
Mach was founded in 2023 by Ethan Thornton, who left MIT at 19 and is now 22, according to Tectonic. TechCrunch reported in June that the company had about 350 employees.
What the money is for
Mach said the financing will support further development of its long-range strike, counter-drone and other platforms, and expand the manufacturing capacity needed to build them at scale. Thornton said the investment lets the company keep adding capacity while moving new platforms from development into production faster.
The company declined to comment to Tectonic on specific production contracts, and a spokesperson said acquisitions are not part of its current plans. Tectonic reported that Mach won a Defense Innovation Unit prototyping contract for Atlas in June, after an Army Applications Laboratory contract in 2024 to build a cruise missile version of Viper.
Company website: machindustries.com