Hermeus, a defense technology startup based in the United States, has secured $350 million in its Series C funding round, reaching a valuation of $1 billion.
The funding round was spearheaded by Khosla Ventures, Canaan Partners, Founders Fund, RTX Ventures, Bling Capital, and In-Q-Tel, with new investors such as Cox Enterprises and their venture fund Socium Ventures, Destiny Tech100, Georgia Tech Foundation, 137 Ventures, and GSBackers.
Hermeus mentioned that debt capital is being extended by Silicon Valley Bank, a division of First Citizens Bank, Pinegrove Venture Partners, Hercules Capital, and Trinity Capital.
The company is currently working on developing unmanned aircraft capable of operating at supersonic and hypersonic speeds through its Quarterhorse program, which includes various prototypes. Their goal is to progress from current testing models to aircraft that can achieve speeds exceeding Mach 3.
The recent funding will aid Hermeus in expanding its aircraft fleet, including upcoming prototypes, and enhancing engineering and manufacturing capabilities at its facilities in Atlanta and Los Angeles.
