British defense startup Cambridge Aerospace has closed a $300 million Series C at a $3.4 billion valuation to expand production of its Skyhammer counter-drone interceptor, the company announced on August 10, 2026.
DFJ Growth leads a rapidly appreciating round
The round was led by DFJ Growth, with participation from Lux Capital, Accel, Lakestar, Never Lift, Ora Global and Elad Gil & Co. Cambridge Aerospace raised $200 million at a $1.3 billion valuation just four months earlier, meaning the company's worth has nearly tripled since April as UK Ministry of Defence contracts have piled up.
Skyhammer and Starhammer
Cambridge Aerospace's first product, Skyhammer, is a radar-guided interceptor with a range of more than 30 kilometers. It went from first sketch to flight test in six weeks and is now under contract with the UK MoD, including under the July-announced Low-Cost Effectors & Autonomous Platforms (LEAP) programme. A follow-on product, Starhammer, is scheduled for 2027 and will extend the company into more advanced counter-air capabilities.
A UK answer to Anduril
The company employs more than 250 people, two-thirds in engineering roles, and operates in the United Kingdom, Germany, Poland, Norway, Ukraine and Australia. DFJ Growth founder Randy Glein said his firm "surveyed the global landscape and identified Cambridge as having the best team and technology to build the most advanced and modern air defence infrastructure for Europe and its allies."
The financing is the latest example of investors racing to fund Western counter-drone capacity after two years of drone-heavy combat in Ukraine, and follows other recent deals including Neros Technologies' $250 million Series C and Elroy Air's $46 million US Army contract.
Reporting based on coverage from The Next Web, Bloomberg and sUAS News.