Official announcements from Ares Industries, Y Combinator, or other major VC firms; credible news sources

Y Combinator Backs Ares Industries, Launches $300,000 Missiles for Taiwan Strait

Aug 25, 2024, 02:48 PM

Y Combinator has backed its first defense startup, Ares Industries, which specializes in building low-cost cruise missiles. Ares Industries, part of Y Combinator's current batch, has pitched its $300,000 anti-ship cruise missiles as a solution for potential conflicts, such as a war in the Taiwan Strait. The company claims these missiles are 10 times smaller and cheaper than existing options. An actual photo of their missile has been released. This marks a significant shift for Y Combinator, which has not previously funded weapons companies. The company also noted that U.S. stockpiles could be exhausted within weeks in such conflicts.