There’s more defense manufacturing coming to America. And some of the most important venture capital funds in the United States are pouring hundreds of millions of dollars into it.
What’s happening:
- Defense manufacturing company Hadrian has raised $260M USD in a new Series C financing round
- The new funding round was led by Peter Thiel’s Founders Fund and Lux Capital
Why it matters:
- Hadrian is one of the fastest growing private companies in America focused on producing precision metal components that are essential for rockets, satellites, drones, missiles and combat equipment
Going deeper:
- Hadrian has publicly stated they plan to use the new growth capital to aggressively begin constructing their largest factory ever in Mesa, Arizona which will span over 270,000 square feet as well as expanding their existing operations located in California
- Multiple other prominent venture capital funds also participated in the Series C round, including a16z and Altimeter Capital
The intrigue:
- Hadrian also has successfully secured debt financing from Morgan Stanley to accelerate the build out of their factory expansions in both Arizona and California
