Former SpaceX executives' Castelion raises $1 billion, valued $13 billion
Business
Castelion, a hypersonic missile company started by former SpaceX executives in 2022, just raised $1 billion and is now valued at $13 billion.
Big names such as Andreessen Horowitz, Carlyle, and JPMorgan Chase backed the round, along with some returning investors.
Funds will scale Pentagon Blackbeard production
This cash will help Castelion ramp up production of its Blackbeard missiles for the Pentagon: these things fly over five times the speed of sound.
With more than $500 million in military contracts already lined up, Castelion says the new funds will help it build faster and cheaper.