Saronic receives $175 million in second round of financing, valuing the company at $1 billion

Saronic is redefining maritime superiority for the U.S. Navy and its allies by delivering the most effective and advanced ASVs at the speed and size needed to meet the rapidly growing Joint Force requirements. Saronic’s ASVs are designed to be a force multiplier for the existing fleet and work in conjunction with manned systems to enable naval forces to go further and do more, with less risk to lives and mission.

“We are creating an entirely new capability for the maritime domain that delivers naval power without the costs and delays of a shipyard,” said Saronic CEO Dino Mavrookas“As the future of naval warfare will rely on manned and unmanned units working together, we must develop solutions that can be easily integrated into the existing fleet and produced at scale to meet any emerging threat. We are grateful to our investment partners who believe so strongly in Saronic’s ability to meet this need.”

Saronic’s investor group is comprised of companies committed to helping the U.S. military maintain its decisive edge in the face of an increasingly complex and competitive global threat landscape by integrating advanced technologies and innovative capabilities that truly address the needs of the warfighter.

“The future of our country depends on our continued development and deployment of the best and most innovative technology,” said Katherine BoyleGeneral Partner at a16z. “Saronic develops the solutions we need to protect soldiers and stay one step ahead of our adversaries, and we are proud to support their continued growth.”

This new investment will accelerate Saronic’s growth both domestically and internationally. Domestically, it will further expand Saronic’s internal manufacturing capabilities and enable increased production of all ASV models. In addition, it will advance research and development of new autonomous capabilities for the Navy and maritime forces, including enhanced technology and payload integration with government and commercial partners. Internationally, this investment will support Saronic’s expansion to more fully serve U.S. allies and partners in key markets.

“Scare off China and other opponents, The United States and our allies must bring intelligent, autonomous new capabilities to naval warfare,” said Alex MoorePartner at 8VC. “Saronic delivers these capabilities at a relevant scale and timeframe and has recruited the best engineers and operators in the industry.”

Saronic’s ASV family includes Spyglass (6′), Cutlass (14′) 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. By vertically integrating hardware and software and using a modular open systems architecture (MOSA), Saronic’s ASVs offer greater interoperability at a price that makes them affordable. A low-cost capability that can be deployed without putting human operators at risk increases fleet survivability and allows commanders to intervene in situations where the risk is too high to use a conventional manned system.

For more information about Saronic, please visit: https://www.saronic.com.

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