Saronic Raises $175M Series B Led by a16z to Develop Military Drone Boats, Valued at $1B

Jul 19, 2024, 04:04 PM

Austin-based defense technology startup Saronic has raised $175 million in a Series B funding round led by venture capital firm Andreessen Horowitz (a16z), bringing its valuation to $1 billion. The company, which was founded out of 8VC Build just 18 months ago, is developing autonomous military boats, also known as autonomous surface vessels (ASVs) and military drone boats, for the U.S. Navy. This latest funding round brings Saronic's total funding to approximately $245 million. Other investors in the round include 8VC, Caffeinated Capital, Elad Gil, and NightDragon. Saronic's team comprises engineers from notable companies such as Anduril, SpaceX, and Liquid. The company aims to redefine maritime superiority with advanced technology, contributing to American defense innovation.