Story perspectives

Covenant unveils Anthem cruise missile and secures $250M+

9/10/2026

Summary

Covenant Unveils Missile

Covenant unveiled the Anthem long-range, heavy-payload cruise missile.
The company raised more than $250 million from investors such as Andreessen Horowitz and Founders Fund.
Covenant opened a 105,000-sq ft Dallas factory to build 5,000 missiles per year beginning early 2027.
Plants in Saxony, Germany and Israel will add 5,000 and 2,000 missiles per year respectively.
Covenant holds $150 million in orders, including an Army Transaction Agreement and a $70 million Navy contract.

Summary

Andreessen Defense Fund

Venture capitalist Marc Andreessen joined the Pentagon’s defense policy board this summer, alongside Blake Masters.
He announced a multibillion-dollar fund dedicated exclusively to U.S. aerospace and defense.
Venture-capital funding for U.S. defense startups in H1 2026 exceeded total 2025 funding, according to PitchBook.
The surge follows a shift from avoidance a decade ago to booming investment driven by Ukraine and Middle East conflicts.

History

Historical Context

In 2015 the Pentagon created the Defense Innovation Unit with a $1 billion budget to fast-track commercial tech, awarding $150 million in its contracts to startups such as Palantir and Anduril. That model proved venture capital could supply defense prototypes, a pattern echoed in 2024 when Covenant secured a $250 million Series C backed by Andreessen Horowitz and Founders Fund to scale missile production for Army and Navy contracts.

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Covenant Unveils Missile

Covenant unveiled the Anthem long-range, heavy-payload cruise missile.
The company raised more than $250 million from investors such as Andreessen Horowitz and Founders Fund.
Covenant opened a 105,000-sq ft Dallas factory to build 5,000 missiles per year beginning early 2027.
Plants in Saxony, Germany and Israel will add 5,000 and 2,000 missiles per year respectively.
Covenant holds $150 million in orders, including an Army Transaction Agreement and a $70 million Navy contract.

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