Exclusive-Sequoia makes first defense tech investment in Mach Industries

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

Defense startup Mach Industries has raised $5.7 million in a seed round led by Sequoia Capital, the first-ever defense tech investment in the venture capital giant's history, the two companies said. Sequoia's funding of a technology that aims to use hydrogen creation on the battlefield signals the latest

Defense startup Mach Industries has raised $5.7 million in a seed round led by Sequoia Capital, the first-ever defense tech investment in the venture capital giant's history, the two companies said.

"There is a major modernization effort underway to advance the U.S. defense technology and build a new generation of military systems." “We've built out facilities in Boston and Austin and are now moving towards production. We are looking to have deployed systems within the next year,” Thornton said in a phone interview with Reuters, adding that the company already works with the Pentagon on research.

However, growing recognition of the importance of defense technology in protecting national security has prompted venture capital firms including Andreessen Horowitz and Founders Fund to become vocal about funding defense technology startups, including Anduril and Palantir.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Sequoia makes first defense tech investment in Mach IndustriesDefence startup Mach Industries has raised US$5.7 million in a seed round led by Sequoia Capital, the first-ever defence tech investment in the venture capital giant's history, the two companies said. Sequoia's funding of a technology that aims to use hydrogen creation on the battlefield signals the latest
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »