Cambridge Aerospace has raised $300 million to expand air defense production and develop new capabilities for the UK and its allies.
Cambridge Aerospace has raised $300 million to expand air defense production and develop new capabilities for the UK and its allies.
The funding round values the UK defense company at $3.4 billion and will support expansion, delivery of existing and new contracts, and development of its next-generation systems.
This investment comes four months after Cambridge Aerospace raised $200 million at a $1.3 billion valuation. Since that April funding round, the company has secured several contracts from the UK Ministry of Defence, including work on low-cost interceptors under the Low-Cost Effectors & Autonomous Platforms program.
“The addition of these funds will allow us to continue to scale our manufacturing and our delivery to meet the pace of threats, and the needs of Allied nations,” Cambridge Aerospace CEO Steven Barrett said.
Defense Firms Raise Large Sums
Cambridge Aerospace's funding follows several large private investments in defense technology companies seeking to scale production and develop new military systems.
In July, German-based Quantum Systems secured $1.2 billion to expand production of autonomous defense systems and military software.
In June, German startup STARK raised 500 million euros ($570 million) to expand the research, development, and production of autonomous military systems across Europe. The funding will support new electronic warfare research facilities and increased manufacturing capacity for thousands of unmanned systems each month.
Earlier, in January, California firm Stratolaunch completed a capital funding drive to expand production and flight testing of hypersonic vehicles.
