Castelion, a defense technology startup based in Torrance, California, announced a $1 billion Series C fundraise on August 19, 2026. The round — a combination of $800 million in equity and $250 million in committed credit facility financing — was co-led by JPMorgan Chase's Strategic Investment Group, Andreessen Horowitz, and funds managed by Carlyle. Lightspeed, Lavrock Ventures, Altimeter, General Catalyst, Interlagos, and T. Rowe Price also participated.
The funding values Castelion at $13 billion and will go toward three priorities: expanding manufacturing capacity at the company's 1,000-acre Project Ranger Campus in Sandoval County, New Mexico (the largest dedicated hypersonic missile manufacturing facility in the nation); developing a longer-range precision strike weapon; and building defensive air and missile systems.
Castelion has secured more than $500 million in U.S. military contracts over the past 18 months. Its first product, Blackbeard — a low-cost, mass-producible hypersonic strike missile — went from a clean sheet to program of record in under four years, with fielding targeted for 2027. The company previously committed more than $250 million in private infrastructure spend at its New Mexico site and will now commit hundreds of millions more.
"Deterrence depends on unapologetic American strength; highly capable weapon systems that adversaries fear produced in quantities they can't imagine at a price taxpayers can afford," said CEO Bryon Hargis. "There's a manufacturing renaissance underway and this round turbocharges American production of Blackbeard."
The round is the largest dedicated hypersonic weapons fundraise in history, reflecting a broader shift in defense spending toward scalable, commercially manufactured武器 systems as the U.S. seeks to close a hypersonic gap with China and Russia.
