Saronic raises $600M to mass-produce autonomous warships

Austin-based defense startup Saronic has raised a $600 million Series C to build an autonomous ship factory called “Port Alpha,” it announced yesterday, quadrupling its valuation to $4 billion from its last round. Investor Elad Gil led the round, with General Catalyst joining existing investors Andreessen Horowitz, 8VC, and Caffeinated Capital, among others. That should make Saronic the second, possibly third, most valuable defense tech startup in the U.S. after Anduril’s last round valued it at $14 billion. Shield AI could beat that, though, as it is reportedly in talks to hit a $5 billion valuation on a new round of funding. (Anduril is in talks to raise again at double its valuation, to $28 billion.) Saronic isn’t the only defense tech darling with big manufacturing ambitions: Anduril, for example, announced plans to build a billion-dollar megafactory in Ohio last month. Saronic hasn’t found a site for Port Alpha yet but is actively searching, a spokesperson confirmed to TechCru ... Read full article.