Castelion, a hypersonic missile developer headquartered in Torrance, California, raised $800 million through a Series C round, Axios reported on Aug. 20 local time.
In the round, Castelion was valued at $13 billion.
The investment was led by JPMorgan Strategic Investments Group, Andreessen Horowitz and Carlyle, the report said. Lightspeed, Lavrock Ventures, Altimeter, General Catalyst, Interlagos and T. Rowe Price also participated as investors.
Axios reported that competition among startups seeking to fill the gap is accelerating as missile stockpiles have fallen sharply due to the wars in Iran and Ukraine.
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Chi-gyu Hwang
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