Defense technology startup Neros has raised $250 million in new funding, tripling its valuation to $2.5 billion. Sequoia Capital and American Strategic Technology Fund co-led the equity round, with Thiel Capital and existing investors also participating. The Torrance, California-based company plans to use the capital to develop new drones, expand overseas, and support manufacturing in allied countries. Neros aims to boost annual production capacity of its Archer one-way attack drone to 1 million units by 2028, up from about 65,000 currently, and expects to deploy its Bandit interceptor drone in combat by year-end. The fundraising follows a five-year U.S. Army contract awarded last month that could be worth as much as $500 million.
Raises $250M at $2.5B valuation, tripling its worth.
American Strategic Technology FundPrivate± Mixed
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Sequoia CapitalPrivate± Mixed
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Thiel CapitalPrivate± Mixed
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