Castelion raises $1bn at $13bn to scale hypersonic weapon production

Castelion secured $1 billion—$800 million in equity and a $250 million revolving credit facility—valuing the hypersonic missile startup at $13 billion. Its Blackbeard weapon is produced at the 1,000-acre Project Ranger site in New Mexico. The U.S. Navy ordered 50 prototypes and containers for $23.4 million, aiming for at least 500 missiles annually by 2027. JPMorgan Chase’s Strategic Investment Group and Andreessen Horowitz co-led the round, with Carlyle, Lightspeed, General Catalyst and other investors participating.