Miles Jamison 
- Castelion has secured $1 billion to advance its hypersonic weapons portfolio
- The new funding will support Blackbeard production at the company’s New Mexico site
- The company is also developing longer-range strike and defensive systems
Castelion has raised $1 billion in Series C financing to bolster production of its Blackbeard hypersonic strike missile and invest in new longer-range strike and defensive systems, the defense technology company said Wednesday.
How Will Castelion Use the New Funding?
Castelion plans to use the funding to expand Blackbeard manufacturing at its Project Ranger site in Sandoval County, New Mexico, a 1,000-acre campus the company describes as the largest dedicated hypersonic missile manufacturing facility in the country. The hypersonic missile progressed from concept to program in less than four years. The company aims to deploy Blackbeard in 2027.
In addition, the company intends to advance the development of a longer-range precision strike weapon and defensive systems for air and missile defense missions.
What Is Castelion’s Blackbeard Program?
Castelion has been developing Blackbeard as a mass-producible hypersonic strike weapon using rapid design cycles and modern manufacturing methods. The company conducted more than 20 development flight tests in 2025, including tests of internally manufactured solid rocket motors, flight computers, seekers and thermal protection materials.
The company previously raised $350 million in Series B financing in December 2025 to support Project Ranger’s production ramp, Blackbeard testing and integration with Army and Navy operational platforms. Castelion said the New Mexico facility would be capable of producing thousands of Blackbeard missiles annually.
Who Led the Financing?
The Series C round, which values Castelion at $13 billion, includes $800 million in equity and $250 million in committed financing for a revolving credit facility. J.P. MorganChase’s Strategic Investment Group, Andreessen Horowitz and Carlyle co-led the equity round, joined by Lightspeed Venture Partners, Lavrock Ventures, Altimeter, General Catalyst, Interlagos and new investor T. Rowe Price Associates.
Castelion previously raised $100 million in January 2025 through a combination of equity and venture debt. The company also secured more than $500 million in U.S. military contracts over the past 18 months.
