Former SpaceX execs' Castelion raises $1B at $13B to out-build defense primes on hypersonics
Castelion, founded by ex-SpaceX executives in 2022, just raised a $1B Series C at a $13B valuation — led by a16z, Carlyle, and J.P. Morgan. The startup has already secured $500M in U.S. military contracts by betting it can make hypersonic weapons faster and cheaper than the Pentagon's traditional primes. The cash goes toward its Blackbeard missiles and a new Mexico production facility, as the U.S. races to close a stockpile gap with China.