Texas-Based Saronic Raises $175 Million, Becomes Defense Unicorn

Jul 19, 2024, 12:05 PM

Saronic, a Texas-based company specializing in military drone boats, has raised $175 million in a Series B funding round, bringing its valuation to $1 billion. The funding round was led by a16z, with significant contributions from 8VC. Saronic, which launched out of 8VC just 18 months ago, aims to support US naval and maritime forces with its advanced maritime technology. The company’s rapid growth and substantial funding underscore the increasing importance of maritime autonomy in modern defense strategies. The expansion of Saronic is seen as a significant win for American defense innovation, marking it as a new defense unicorn.