There’s a new unicorn defense tech startup in the United States of America. And they want to change how combat happens at sea.
What’s happening:
- Texas based defense tech startup Saronic has raised $175 million in a new Series B financing round
- The financing was led by a16z and included notable participation from venture capital funds such as Caffeinated Capital, NightDragon and angel investors such as Elad Gil
The big idea:
- Saronic manufactures autonomous surface vessels for military purposes that can be rapidly deployed and fulfil missions without any human intervention
- Saronic’s vessels are also capable of being deployed on maritime missions where GPS accessibility is denied due to the environment
By the numbers:
- The recent Series B financing round of $175M USD gives Saronic a valuation of more than $1B USD
Going deeper:
- Saronic is developing next generation vessels for combat specifically for the United States Navy as well as their allies globally
The intrigue:
- Venture capital funds in the United States of America have been deepening their bets on defense tech startups recently, with Sequoia Capital recently funding a startup focused on domestic drone production and a16z recently backing a startup leveraging machine learning and artificial intelligence for operating firearms
