Castelion hits $13B valuation to mass-produce hypersonic missiles

Castelion, founded by former SpaceX executives in 2022, closed a $1 billion Series C round—$800 million in equity and a $250 million revolving credit facility—valuing the company at $13 billion. The funding will expand production of its Blackbeard hypersonic missiles and other weapons at its New Mexico facility, supporting U.S. efforts to close a hypersonic capability gap with China after securing over $500 million in military contracts.