Mach Industries, the Huntington Beach defense-technology startup founded by 22-year-old Ethan Thornton, announced on June 1, 2026 a $300 million Series C at a $1.8 billion post-money valuation. Infinite Capital and Ribbit Capital co-led the round, with Bedrock Capital, Sequoia Capital and Khosla Ventures participating. The new valuation is nearly four times the $470 million Mach commanded in June 2025 when it closed a $100 million Series B.
Five autonomous platforms in development
The capital will accelerate the build-out of five autonomous aerial systems Mach is moving toward production next year: Viper, a jet-powered vertical-takeoff vehicle; Glide, a high-altitude glider designed to launch weapons from altitude; Stratos, an airborne surveillance platform; Dart, a low-cost interceptor for counter-drone missions; and Pike, a long-range munitions launcher. Mach plans to start production on at least three of these systems in 2027.
New Pentagon contract
Alongside the financing, Mach disclosed a fresh Department of Defense contract from the Defense Innovation Unit to develop a runway-independent strike aircraft for the U.S. Navy. The award adds a sixth vehicle to the company's roadmap and follows a string of DIU-funded prototypes that have made Mach one of the fastest-rising names in U.S. drone manufacturing.
Why investors are paying up
Mach's quadrupled valuation reflects the same investor thesis driving rounds at Bone AI and other autonomous-systems startups: U.S. defense procurement is shifting toward attritable, mass-produced platforms, and the Pentagon has put more than $50 billion behind drone warfare programs. Infinite Capital's lead role signals continued specialization of defense-focused venture funds, while Sequoia and Khosla's pro-rata participation underscores generalist conviction.
Production timeline
Mach has been hiring aggressively in California to expand its vertical manufacturing capacity. The company says first deliveries of Viper, Dart and Pike are scheduled for 2027, with Glide and Stratos to follow. Each platform is designed around modular AI-driven autonomy stacks that can be retargeted by U.S. and allied operators in the field.
Reporting based on coverage from Bloomberg, TechCrunch and OC Business Journal.