Mach Industries
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Investors
Founders
About
Mach Industries is a Huntington Beach, California-based defense manufacturer building advanced unmanned systems and the flexible manufacturing infrastructure to produce them at scale 12. Its product lines include unmanned aerial systems, propulsion components (Mach Propulsion), and Forge — its distributed manufacturing network designed to ramp production of defense hardware in partnership with U.S. Department of Defense customers and allied governments 12.
The company was founded in 2023 by Ethan Thornton, who dropped out of MIT as a teenager to start the business 23. Mach serves customers including the U.S. Army, Air Force, and SOCOM, as well as allied governments 1.
Funding History
| Date | Round | Amount | Lead | Co-investors |
|---|---|---|---|---|
| 2023-06-16 | Seed | $5.7M | Sequoia Capital | Marque VC, Champion Hill Ventures, 1517 Fund 456 |
| 2023-10-04 | Series A | $79M | Bedrock Capital | DCVC, Marque VC 6 |
| 2025-06-17 | Series B | $100M | Khosla Ventures, Bedrock Capital | 7 |
| 2026-06-02 | Series C | $300M | Ribbit Capital, Infinite Capital | Bedrock Capital, Sequoia Capital, Khosla Ventures 123 |
The June 2026 Series C valued Mach Industries at $1.8 billion, nearly four times its $470 million Series B valuation from approximately 12 months earlier 23. Capital will fund execution of government contracts, talent acquisition, second-generation systems, and expansion of the Forge manufacturing network and Mach Propulsion 1.
What Investors Say
No independently sourced investor quotes found at this time.
What Founders Say
“Today’s Series C funding is a powerful accelerator for our mission.” — Ethan Thornton, Founder & CEO, Mach Industries press release, June 2, 2026 1.
Sources
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“Mach Industries Raises $300 Million in Series C Funding,” PR Newswire press release, June 2, 2026. Accessed June 2026. https://www.prnewswire.com/news-releases/mach-industries-raises-300-million-in-series-c-funding-302787788.html↩↩↩↩↩↩
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Brianna Wessling, “Autonomous defense manufacturer Mach Industries raises $300M,” The Robot Report, June 2026. Accessed June 2026. https://www.therobotreport.com/autonomous-defense-manufacturer-mach-industries-raises-300m/↩↩↩↩↩
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“MIT dropout’s Mach Industries bags $300M at $1.8B valuation as defence manufacturing enters a new era,” Tech Funding News, June 2026. Accessed June 2026. https://techfundingnews.com/mit-dropouts-mach-industries-bags-300m-at-1-8b-valuation-as-defence-manufacturing-enters-a-new-era/↩↩↩
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PR Newswire, “Sequoia Capital Partners with Mach Industries to Revolutionize Defense Technology for the United States,” June 16, 2023, accessed July 2026. https://www.prnewswire.com/news-releases/sequoia-capital-partners-with-mach-industries-to-revolutionize-defense-technology-for-the-united-states-301852798.html — Primary company press release confirming USD 5.7M seed led by Sequoia Capital (Stephanie Zhan and Shaun Maguire) with Marque VC and Champion Hill Ventures participating; Sequoia’s first-ever defense-tech investment. ↩
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Sequoia Capital, “Partnering with Mach Industries: A New Generation of Defense Technology,” June 15, 2023, accessed July 2026. https://sequoiacap.com/article/partnering-with-mach-a-new-generation-of-defense-technology/ — Sequoia’s own first-party partnership post; confirms Sequoia leads Mach’s seed round. ↩
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TechCrunch, “Defense startup Mach Industries closes $79M Series A at $335M valuation,” October 4, 2023, accessed July 2026. https://techcrunch.com/2023/10/04/defense-startup-mach-industries-closes-79m-series-a-at-335m-valuation/ — Retrospectively confirms USD 5.7M seed led by Sequoia Capital with Champion Hill Ventures and 1517 Fund among participants; confirms Series A led by Bedrock Capital with DCVC and Marque participating. ↩↩
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TechCrunch, “Two-year-old defense tech Mach Industries confirms $100M raise led by Khosla, Bedrock,” June 17, 2025, accessed July 2026. https://techcrunch.com/2025/06/17/two-year-old-defense-tech-mach-industries-confirms-100m-raise-led-by-khosla-bedrock/ — Series B round; Khosla Ventures and Bedrock Capital co-lead. ↩