Castelion Secures $1 B Series C to Scale Low-Cost Hypersonic Missile Production

On August 19 2026, defense-technology startup Castelion announced a Series C financing round of $1 billion—$800 million in equity and a $250 million revolving-credit facility—valuing the four-year-old company at $13 billion. The capital will expand production of the Blackbeard hypersonic strike missile at Castelion’s Project Ranger complex in Sandoval County, New Mexico, and accelerate development of a longer-range precision-strike weapon and defensive systems. The U.S. Navy placed a $23.4 million firm-fixed-price order for 50 pre-production missiles in June 2026 and a $105 million contract in April 2026 to integrate Blackbeard onto the F/A-18E/F Super Hornet. The Pentagon signed a two-year production-framework agreement on May 13 2026, outlining a minimum procurement of 500 missiles per year after testing, with options for thousands more.

Castelion raises $1B for Blackbeard hypersonic missile

Castelion, founded in 2022 by former SpaceX executives, applies vertical integration and rapid-iteration testing to missile production, aiming to address “manufacturing bottlenecks” that have limited U.S. hypersonic inventories. Recent conflicts have exposed strains in U.S. weapons stockpiles, prompting the Department of Defense to seek new suppliers capable of delivering large-quantity, lower-cost systems.

Castelion Expands Blackbeard Hypersonic Missile Production With $1 Billion Funding

• Financing: $800 million equity + $250 million revolving credit.

Castelion Expands Blackbeard Hypersonic Missile Production With $1 Billion Funding

• Investors: Co-led by JPMorgan Chase’s Strategic Investment Group, Andreessen Horowitz and Carlyle; participation from Lightspeed Venture Partners, Lavrock Ventures, Altimeter, General Catalyst, Interlagos and T. Rowe Price Associates.

Castelion CEO says $1 billion funding will scale Blackbeard hypersonic missile production and expand U.S. weapons capacity

• Valuation: $13 billion.

Castelion raises $1B for Blackbeard hypersonic missile

• Contracts: >$500 million in U.S. military contracts secured over the past 18 months, including $49.9 million (Feb 2026), $105 million (Apr 2026), $23.4 million (Jun 2026).

Castelion raises $1B for Blackbeard hypersonic missile

• Production Target: Minimum 500 Blackbeard missiles annually once the framework is activated; the Project Ranger site can eventually produce “thousands of missiles per year.”

Castelion Raises $1B Series C

• Unit Cost Estimates: Reuters reported an approximate cost of $384,000 per missile; a venture-backed source estimated about $440,000 per missile.

Castelion Raises $1B Series C at $13B Valuation to Mass-Produce Hypersonic Missiles

Public sources differ on the projected per-missile price. One report cites $384,000, while another places the price at approximately $440,000. The company has not issued a definitive unit-cost figure.

Space News

• “There’s a manufacturing renaissance underway and this round turbocharges American production of Blackbeard,” — Bryon Hargis, CEO

Space News

• “Deterrence depends on unapologetic American strength; highly capable weapon systems that adversaries fear produced in quantities they can’t imagine at a price taxpayers can afford,” — Bryon Hargis, CEO

Castelion Raises $1B Series C

• “Castelion is helping to address a critical national security challenge by bringing greater speed, agility and manufacturing capacity to the development of next-generation defense technologies,” — Todd Combs

Castelion CEO says $1 billion funding will scale Blackbeard hypersonic missile production and expand U.S. weapons capacity

The production framework signed on May 13 2026 provides a pathway for a minimum annual procurement of 500 missiles, with the Pentagon seeking authorizations for up to 12,000 missiles over five years. Castelion aims to achieve full-rate production at Project Ranger and field Blackbeard on operational platforms by 2027, while advancing its longer-range strike and defensive weapon lines.

Castelion raises $1B for Blackbeard hypersonic missile