“With rising tensions in the Indo-Pacific, the United States and its allies need a non-nuclear deterrent capability. Affordable, mass-produced hypersonic long-range strike weapons are required to build a decisive combat power advantage and deter future aggression,” Castelion stated in the press statement.
Advancing missile development
Castelion’s Series A funding round raised $100 million, led by Lightspeed Venture Partners and including several other firms. Moreover, Castelion secured $30 million in venture debt financing from Silicon Valley Bank. The deal is expected to close in February.
“Funding will be used to continue Castelion’s rapid flight test campaign and invest in scaled manufacturing infrastructure for key missile subsystems,” the press release noted.
Before this, the company raised $14.2 million in seed funding and received various Small Business Innovation Research (SBIR) contracts from U.S. military services.