Erin Pace of Medium reports that Austin-based Saronic Technologies recently raised $600 million in its Series C funding round, boosting its valuation to $4 billion. The funding will support the creation of Port Alpha, a next-gen shipyard for producing large unmanned autonomous surface vessels (ASVs) to enhance U.S. maritime defense. Pace writes:
Saronic Technologies today announced it has closed $600 million of funding for its Series C round to advance its mission of redefining maritime superiority for the United States and its allies. The round was led by Elad Gil and values the company at $4 billion. This most recent round quadrupled Saronic’s valuation just seven months after the company hit unicorn status in July 2024. Saronic welcomes General Catalyst as a new investor and recognizes commitments from existing investors, including a16z, Caffeinated Capital, and 8VC.
The raise marks a new phase in advancing autonomy for naval and maritime missions. With this funding, Saronic plans to build Port Alpha, a next-generation shipyard capable of delivering new classes of unmanned ships at the speed and scale needed to protect and defend the maritime domain. Port Alpha will enable the expansion of Saronic’s Autonomous Surface Vessel (ASV) fleet into medium and large-class autonomous ships for defense applications. […]
“The last years have seen a degradation in the capacity for the United States to build ships and to manufacture core needs of the country. I am excited to back Saronic and its focus on revitalizing shipbuilding in America, while also building products to defend those interests,” said Elad Gil, CEO, Gil Capital.
This announcement comes on the heels of a strong 2024 for Saronic that included the development and delivery of Corsair, its largest ASV model to date; the acquisition of a ~420,000-square-foot production and manufacturing facility in Austin, Texas, to support the growing demand for its existing family of ASVs; a successful Series B funding round; and continued growth with U.S. government customers.
Read more here.
