Mach Industries secures major funding round to advance defense tech innovations

Mach Industries, a defense technology startup founded by 21-year-old Ethan Thornton, is reportedly closing in on a $100 million investment round, according to sources familiar with the deal. This latest round is said to be co-led by new investor Khosla Ventures, with Keith Rabois at the helm, and existing investor Bedrock Capital. If finalized, the deal would value Mach at approximately $470 million. However, the round has not yet officially closed, and terms could still shift.

Founded when Thornton dropped out of MIT as a teenager, Mach Industries gained early attention as Sequoia Capital’s first defense tech investment. The company is focused on cutting-edge military technologies including vertical takeoff vehicles and weapon systems designed for high-altitude or near-space operations. In addition to these technologies, Mach is also working on scalable, rapidly deployable factories that can be set up when production demand increases.

In March, the U.S. Army Applications Laboratory selected Mach to develop a vertical takeoff precision cruise missile named “Strategic Strike.” The company also revealed plans to build its first major manufacturing facility in Huntington Beach, California, spanning 115,000 square feet. The new funding round is expected to bring the company’s total capital raised to around $185 million, building on earlier rounds led by Sequoia and Bedrock.