Saronic raises $175 million in Series B funding; valued at $1 billion

Saronican Austin, Texas-based defense technology company, has raised $175 million in its second round of funding, valuing it at $1 billion.

The round was led by Andreessen Horowitz (a16z) and included participation from both new and existing investors, including 8VC, Caffeinated Capital, Elad Gil and NightDragon, among others.

The company intends to use the funds to accelerate its growth domestically and internationally. Domestically, it will enable further expansion of its in-house manufacturing capabilities and increased production of all of its ASV models. In addition, Saronic will advance research and development of new autonomous capabilities for naval and marine forces, including enhanced technology and payload integration with government and commercial partners.

Led by CEO Dino Mavrookas, Saronic strengthens the maritime sector of the U.S. Navy and its allies by delivering autonomous surface vessels (ASVs) designed to operate alongside manned systems, enabling naval forces to go further and do more, with less risk to life and mission.

Saronic’s ASV family includes Spyglass (6 feet), Cutlass (14 feet) and Corsair, the largest model currently in development and testing. Each vessel has built-in autonomous capabilities to meet the customer’s specific requirements and can carry various payloads in environments without communications and GPS.

FinSMEs

19.07.2024