Castelion announced a $1 billion Series C funding round to accelerate production of Blackbeard, its low-cost, mass-producible hypersonic strike missile. The financing includes $800 million in equity and $250 million in committed credit, valuing the company at $13 billion.
The investment will significantly expand production at Castelion’s 1,000-acre Project Ranger facility in New Mexico, where the company plans to spend hundreds of millions more on manufacturing capacity. Castelion also plans to accelerate a longer-range precision strike system and develop lower-cost defensive systems using technology and manufacturing methods developed for Blackbeard.
Project Ranger is moving fast.
17 buildings built. 1.6 million cubic yards of earth moved. 300 workers on site.
Speed matters, and we’re doing our part to rebuild the Arsenal of Freedom. pic.twitter.com/ebiQCUqspT
— Castelion (@Castelion) July 29, 2026
Castelion says it has secured more than $500 million in U.S. military contracts over the past 18 months and moved Blackbeard from initial design to a program of record in less than four years. The company is targeting 2027 for fielding and says its broader goal is to produce hypersonic weapons at much higher rates and lower costs.
The funding comes as Castelion expands its role in U.S. defense manufacturing. In June, the company announced a $23.4 million Navy order for 50 Blackbeard prototypes, while a May framework agreement called for multi-year procurement of 500 weapons annually.
Whoever learns fastest wins over time.
That happens through rapid prototyping, testing, and iteration.
A responsive, capable machine shop makes that possible at Castelion. Here’s how. pic.twitter.com/CoXspi3zWZ
— Castelion (@Castelion) August 10, 2026
