Exclusive-Sequoia makes first defense tech investment in Mach Industries

Defense startup Mach Industries has raised $5.7 million in a seed round led by Sequoia Capital, the first-ever defense tech investment in the venture capital giant's history, the two companies said.

"There is a major modernization effort underway to advance the U.S. defense technology and build a new generation of military systems." “We've built out facilities in Boston and Austin and are now moving towards production. We are looking to have deployed systems within the next year,” Thornton said in a phone interview with Reuters, adding that the company already works with the Pentagon on research.

However, growing recognition of the importance of defense technology in protecting national security has prompted venture capital firms including Andreessen Horowitz and Founders Fund to become vocal about funding defense technology startups, including Anduril and Palantir.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Sequoia makes first defense tech investment in Mach IndustriesDefence startup Mach Industries has raised US$5.7 million in a seed round led by Sequoia Capital, the first-ever defence tech investment in the venture capital giant's history, the two companies said. Sequoia's funding of a technology that aims to use hydrogen creation on the battlefield signals the latest
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Exclusive-Russia's Sberbank to issue yuan bonds in 2023 if opportunity arisesMOSCOW : Russia's dominant lender Sberbank will issue bonds in Chinese yuan this year if an opportunity arises and will continue borrowing in roubles to drive portfolio growth, the bank's finance chief told Reuters. In his first interview since becoming Sberbank's head of finance last year, Taras Skvorts
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »