Saronic Technologies has raised US$600m in its Series C funding round, bringing the company’s valuation to US$4bn.
The round, which was led by Elad Gil, marks a significant step in Saronic’s mission to reshape maritime capabilities for the United States and its allies.
This latest funding round has reportedly quadrupled the company’s valuation in seven months, following its achievement of unicorn status in July 2024. In addition to new backing from General Catalyst, existing investors including a16z, Caffeinated Capital, and 8VC have also committed to the company’s growth.
The newly secured capital will fuel Saronic’s plans to build Port Alpha, a next-generation shipyard designed to accelerate the production of autonomous ships.
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Port Alpha aims to deliver medium and large-class autonomous surface vessels (ASVs) at the scale and speed required to meet national defence needs. The facility will address gaps in US shipbuilding capacity and help establish a hybrid fleet of unmanned and manned vessels to strengthen maritime security.
Saronic has been focused on expanding its manufacturing capabilities for small ASVs over the past two years. The development of Port Alpha will further enhance the company’s ability to deliver advanced maritime technologies. The shipyard will feature a first-principles approach to shipbuilding, maximising efficiency to produce autonomous vessels.
The US Navy has emphasised the need for a hybrid fleet that incorporates unmanned systems alongside traditional manned ships. As global maritime tensions rise, the United States aims to modernise its naval capabilities and reduce reliance on costly and aging manned vessels.
Saronic’s work is positioned to support this shift by providing unmanned vessels that can enhance operational reach, lower production costs, and improve the effectiveness of the US military.
Port Alpha is expected to be a pivotal part of revitalising America’s shipbuilding infrastructure and driving innovation in the defence sector. The facility is designed to create public-private partnerships, promote job growth in the shipbuilding workforce, and modernise manufacturing methods to meet the evolving needs of national security.
This funding round follows a strong year for Saronic, which included the development of its largest ASV model, Corsair, the acquisition of a 420,000ft² production facility in Austin, Texas, and continued growth in government contracts. Saronic’s expansion reflects the increasing demand for autonomous maritime systems and the company’s role in shaping the future of naval defence.
The funding will support Saronic’s ongoing efforts to strengthen America’s maritime resilience and provide cutting-edge technologies for the nation’s hybrid fleet.
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