Hermeus, a defense technology startup based in the United States, has successfully secured $350 million in its Series C funding round, elevating its valuation to $1 billion.
The funding round was spearheaded by prominent investors such as Khosla Ventures, Canaan Partners, Founders Fund, RTX Ventures, Bling Capital, and In-Q-Tel. Notable new investors include Cox Enterprises and their venture fund Socium Ventures, Destiny Tech100, Georgia Tech Foundation, 137 Ventures, and GSBackers, among others.
In addition to equity investment, Hermeus has secured debt capital from Silicon Valley Bank, a division of First Citizens Bank, Pinegrove Venture Partners, Hercules Capital, and Trinity Capital.
The company is currently focused on developing a series of unmanned aircraft specifically engineered to operate at both supersonic and hypersonic speeds. Their ongoing Quarterhorse program involves the creation of multiple prototypes, with the ultimate goal of progressing from current test models to aircraft capable of achieving speeds exceeding Mach 3.
With the latest funding infusion, Hermeus plans to bolster the development and expansion of its aircraft fleet, including upcoming prototypes, while enhancing its engineering and manufacturing capacities at its facilities in Atlanta and Los Angeles.