Castelion Raises $1B Series C to Scale Production of Low-Cost Hypersonic Weapons

Castelion, a cutting-edge defense technology company working to restore America's conventional deterrence capability, today announced a $1 billion Series C fundraise. This financing will accelerate the scaled production of Blackbeard, Castelion's first low-cost, mass-producible hypersonic strike missile, while expanding the company's product portfolio to longer-range strike weapons and defensive systems.

The Series C round is a combination of $800 million in equity financing and $250 million in committed financing for a revolving credit facility. The equity financing was co-led by JPMorganChase's Strategic Investment Group - part of the firm's Security and Resiliency Initiative, Andreessen Horowitz, and funds managed by global investment firm Carlyle. Lightspeed Venture Partners, Lavrock Ventures, Altimeter, General Catalyst, and Interlagos joined new investor T. Rowe Price Associates, Inc in investing in the fundraise. The round values Castelion at $13 billion. 

Orrick's John Bautista and Montana Ware led the team advising Castelion, which also included Daniel Garber, Christina Campisano, Jason Remy, Jeanine McGuinness, Harry Clark, Steven Malvey, Michael Yang, Katherine Hogan, Scott Porter, Elizabeth Gatto, Danielle Mangogna, Kristin Petersen, Daniel Yost, Shannon Yavorsky, Nathaniel Reisenburg, Jeffrey Naimon, Craig Falls, Blake Ilstrup and Maya Krpata.

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