Austin-based defense startup Saronic has raised $600 million in its Series C funding round, valuing the company at $4 billion. The new valuation quadruples its previous valuation from its last round. Investor Elad Gil led the round, with General Catalyst joining existing investors Andreessen Horowitz, 8VC, and Caffeinated Capital.
Saronic plans to build an autonomous ship factory called “Port Alpha,” which could make it one of the most valuable defense tech startups in the US. The company aims to bolster U.S. shipbuilding capacity compared to China by building large unmanned ships.
The trend of unmanned ships is gaining traction in naval warfare, thanks in part to Ukraine’s successful use of drone ships against the Russian Navy. Saronic has already developed three models of autonomous surface vessels (ASVs) and plans to expand its operations within five years.
Saronic’s co-founder and CEO Dino Mavrookas attributes the company’s speed at developing new vessels and software as a major factor in its successful funding round. The company now raises almost $1 billion, with its valuation potentially rivaling that of Anduril, another defense tech startup.
Source: https://techcrunch.com/2025/02/19/saronic-raises-600m-to-mass-produce-autonomous-warships