Autonomous naval vessel manufacturer Saronic Technologies announced Tuesday it has successfully completed a massive $1.75 billion investment round, pushing the company’s worth to $9.25 billion – more than twice its previous valuation.
The dramatic increase in value reflects a broader trend of soaring investor interest in defense technology companies, particularly as the Trump administration signals plans to redirect military funding toward innovative firms capable of delivering advanced technology faster and cheaper than traditional defense contractors.
The rapid growth is striking – Saronic secured $600 million just last month at a $4 billion company value. Similarly, drone manufacturer Anduril Industries is seeking to reach a $60 billion valuation in its upcoming funding round.
To put this in perspective, established defense giant Huntington Ingalls, which serves as the military’s primary shipbuilder with 44,000 employees, currently holds a market value of $15 billion.
The Navy awarded Saronic a $392 million contract in December for production of its 24-foot Corsair autonomous vessels. The company’s Austin manufacturing facility now has capacity to produce thousands of these units annually.
Saronic’s roadmap includes expanding its fleet offerings from the compact Corsair to the larger 180-foot Marauder vessel, with plans for additional surface and underwater craft. Following previous funding, the company acquired a Louisiana shipyard in Franklin for Marauder construction.
The new capital will fund expansion of manufacturing operations across Louisiana, Texas, and additional locations. Saronic is also developing an advanced shipbuilding facility concept called “Port Alpha.”
Kleiner Perkins spearheaded the investment round, bringing together new investors including Advent International, Bessemer Venture Partners, DFJ Growth, and BAM Elevate. Previous backers Andreessen Horowitz, 8VC, Caffeinated Capital, Elad Gil, and Franklin Templeton also participated.
The company reports its workforce has grown beyond 1,300 employees.
