Series B financing in the amount of $350 million has been raised by Castelion, a cutting-edge defense technology company based in Torrance.
This financing will enable the company to advance a top priority of the Pentagon, which is to modernize and increase its production of hypersonic munitions to help restore the traditional military deference capabilities of the United States. Hypersonic munitions, or glide vehicles, are those that travel faster than five times the speed of sound.
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The funding will be used to develop Project Ranger, in Sandoval County, New Mexico, where the company has a rocket motor production site that spans 1,000 acres. Here, the company will manufacture its Blackbeard missiles, producing thousands each year. It will also create 300 high-quality jobs and generate over $650m in economic output over the next 10 years.
Lightspeed Venture Partners and Altimeter Capital led this round of financing with participation from General Catalyst, Lavrock Ventures, and Andreessen Horowitz, among others.
CEO and Co-Founder of Castelion, Bryon Hargis, said that the advancement of the company’s Blackbeard technology will help the company to boost speed and production volumes.
The second hypersonic product line of the company is already in development, as it plans to begin testing Blackbeard in 2026.
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