Castelion funding, valuation and investors

Overview

Castelion manufactures hypersonic weapons designed for quantity and commercial unit cost. Headquarters are Torrance, California, with plants in New Mexico, Texas, and California. On August 19, 2026 the company announced a $1 billion Series C: $800 million of equity co-led by JPMorganChase’s Strategic Investment Group, Andreessen Horowitz, and Carlyle funds, plus $250 million of committed revolving credit, at a $13 billion valuation. Lightspeed, Lavrock, Altimeter, General Catalyst, and Interlagos returned; T. Rowe Price Associates joined (advised account). The company cites more than $500 million in U.S. military contracts over 18 months, a program of record in under four years, and 2027 fielding for Blackbeard. Project Ranger is a 1,000-acre campus in Sandoval County, New Mexico. A June 11, 2026 note with Saronic targets a 2027 maritime launch demo. Prior close: $350 million Series B on December 5, 2025 (Altimeter and Lightspeed). Revenue and unit volume were not disclosed. Carlyle, JPM, Lavrock, Interlagos, and T. Rowe do not have Venture Capital Tracker fund pages.

Why Castelion is interesting

August 19, 2026: $1B Series C ($800M equity + $250M revolver) at $13B, co-led by JPM, a16z, and Carlyle — a factory print, not a software mark. Google still ranks the $350M Series B. Revenue was not disclosed.

Product & use cases

Blackbeard hypersonic strike missile plus longer-range strike and air/missile-defense products, manufactured for quantity at Project Ranger in New Mexico.

• U.S. and allied hypersonic strike magazine depth
• Lower-cost complement to exquisite long-range systems
• Future maritime launch from unmanned surface vessels (Saronic demo targeted 2027)

Key facts

• Aug 19, 2026: $1B Series C = $800M equity + $250M revolver at $13B; JPM, a16z, Carlyle co-leads (company)
• Company: >$500M U.S. military contracts in 18 months; Blackbeard program of record; 2027 fielding target
• June 16, 2026: $23.4M Navy FFP for 50 Blackbeard EOC prototypes (company)
• Dec 5, 2025: $350M Series B, Altimeter + Lightspeed (company). July 2025 TechCrunch was raise-in-progress.
• Revenue and units/year not disclosed. Interlagos “thousands a year” is an investor quote.

Funding history (newest first)

Investors in our directory

Funds linked from Castelion's profile — open a fund page for stage focus and related deal articles.

Competitive landscape

Edge: Company claim: designed for industrial-rate output and commercial unit cost from day one, with a dedicated hypersonic plant already taking private infrastructure spend. That is a manufacturing thesis, not a disclosed revenue multiple.

Castelion is priced as a munitions factory ($13B) next to Anduril’s platform ($61B) and Neros’s drone print ($2.5B). The diligence gate is 2027 fielding and converted contracts, not another valuation headline.

• Anduril adjacent

  Software-defined defense platform at $61B. Castelion is a missile OEM at $13B. See /startup/anduril.

• Neros adjacent

  Torrance-area attritable drones at $2.5B (Aug 11). Different payload class. See /startup/neros-technologies.

• Lockheed Martin / RTX incumbent

  Legacy hypersonic contractors. Castelion’s bet is cost and rate, not an admitted bake-off.

Notable stories

• Aug 19, 2026: $800M equity + $250M revolver at $13B; JPM, a16z, Carlyle co-leads (company)
• June 16, 2026: $23.4M Navy order for 50 Blackbeard EOC prototypes (company)
• June 11, 2026: Saronic maritime hypersonic demo targeted 2027 (company)
• Dec 5, 2025: $350M Series B, Altimeter + Lightspeed (company)

Industries

Related funding articles

Venture Capital Tracker pieces that cover Castelion's financing or category context.

• What Is Castelion’s Valuation in 2026? $13B After $1B
• August 19–20 VC News: Castelion $13B, ALSO $150M, YC GPU
• August 2026 VC News: What Closed Through the 31st?
• a16z Portfolio Companies on Fire in 2026: AI, American Dynamism & More