Mach Industries, Defense technology founded by Ethan Thornton, 21, is about to close a new financing of $ 100 million led by the new investor Khosla and the existing investor Bedrock Capital, a source familiar with the agreement tells Techcrunch.
The new round will assess the company in around $ 470 million, according to the source. However, the agreement has not closed and the terms can still change. Khosla’s investor who leads the agreement is Keith Rabois.
Mach Industries is a Defense Technology Startup by Buzzy, a state promoted by its history of founding origin and connection with Sequoia. Thornton was just a teenager when he left MIT for Found Mach Industries, which was the first technological investment of Sequoia defense.
Mach is developing vertical take -off vehicles and weapons that can work from the edge of space. It is also developing smaller factories that can be easily built and distributed when more production is needed.
In March, Mach announced that it was selected by the Army Applications Laboratory to develop a vertical take -off cruise cruise missile that calls “strategic strike.” He also announced plans for his first factory, an ease of 115,000 square feet in Huntington Beach, California.
This new financing must carry the total financing of the startup to approximately $ 185 million, to date. Sequoia led the seed round of $ 5.7 million Mach, which was announced In June 2023. Geoff Lewis, founder of Bedrock Capital, directed the round of $ 79 million Mach a few months later.
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