Hypersonica, a European defense startup, raised €100 million ($111 million) in Series B funding. Lightspeed and General Catalyst co-led the round. Plural and 201 Ventures also joined.
Funding plans
The company will use the money for research, development, and manufacturing infrastructure. It will also fund further prototype testing. Total funding to date is around €125 million.
Company background
The company develops hypersonic missiles. CEO Philipp Kerth co-founded the company with CTO Marc Ewenz. It says demand for this capability is clear from several European countries and NATO.
Product progress
In February, a prototype of its HS-1 model traveled above Mach 6 over more than 300 kilometers. The company called this a first for a privately funded European defense company. It expects missiles in full production to cost 20% of conventional missiles by 2029.
The UK and Germany are co-funding a deep precision strike program under the Trinity House Agreement. NATO estimates alliance members will spend £37 billion on these capabilities over the next ten years. Hypersonica has not disclosed specific customers.