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Castelion hits $13B valuation to mass-produce hypersonic missiles

TechCrunch • August 20, 2026 • business

Key Points:

Castelion, a missile startup founded by former SpaceX executives, has raised $1 billion in a Series C funding round at a $13 billion valuation, co-led by Andreessen Horowitz, Carlyle, and JPMorgan Chase.
Founded in 2022, Castelion focuses on manufacturing hypersonic weapon systems more quickly and cost-effectively than traditional defense contractors, securing over $500 million in U.S. military contracts to date.
The funding comes as the Pentagon seeks to bolster its hypersonic missile stockpile to keep pace with China’s advancements, with Castelion aiming to close this gap through faster production methods.
Castelion plans to use the new capital to produce its Blackbeard hypersonic missiles and other weapons at its New Mexico facility.
The $1 billion round includes $800 million in equity and a $250 million revolving credit facility, with participation from existing investors such as Lightspeed, General Catalyst, and Altimeter.

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