Austin-based defense technology company Saronic has secured $600 million in Series C funding, boosting its valuation to $4 billion. This strategic investment will drive the establishment of “Port Alpha,” an autonomous ship production facility.
Led by investor Elad Gil, the funding round witnessed the participation of renowned investors, including General Catalyst, Andreessen Horowitz, 8VC, and Caffeinated Capital. Saronic’s valuation has quadrupled since its previous funding round, positioning it as one of the most valuable defense tech startups in the United States.
Saronic’s focus lies in the mass production of autonomous surface vessels (ASVs). The company has already developed three ASV models, measuring up to 24 feet in length. However, with the construction of Port Alpha, Saronic aims to expand its capabilities to build larger unmanned ships.
The increasing adoption of unmanned ships in naval warfare has been fueled by Ukraine’s effective utilization of drone ships against the Russian Navy. Saronic’s efforts contribute to strengthening the U.S. shipbuilding capacity and enhancing its competitive edge against China in this growing defense sector.
The company’s CEO, Dino Mavrookas, attributed Saronic’s accelerated valuation to its rapid vessel and software development. With this latest funding, Saronic has raised a total of $850 million, reflecting the growing momentum in the defense technology industry in Silicon Valley.
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