Cambridge Aerospace has raised $300 million in a Series C round at a $3.4 billion valuation, led by DFJ Growth, with participation from Lux, Accel, Lakestar, Never Lift, Ora Global, and Elad Gil & Co.
- The firm develops air defence systems designed to counter aerial threats, including low-cost attack drones. Its first product, Skyhammer, is already being delivered, while the company plans to bring its next system, Starhammer, to market in 2027.
- Cambridge Aerospace has secured several contracts from the UK Ministry of Defence in recent months, including an agreement to supply low-cost interceptors to the UK Armed Forces. In July, the UK government also announced the Low-Cost Effectors & Autonomous Platforms (LEAP) program, focused on developing affordable systems for countering aerial threats.
- Cambridge Aerospace currently employs more than 250 people, with around two-thirds working in technical and engineering roles. Beyond the UK, the company has operations in Germany, Poland, Norway, Ukraine, and Australia.
- In April, the company announced a $200 million Series B at a $1.3 billion valuation. The round was co-led by Elad Gil & Co. and Spark Capital.
Details of the deal
- The new funding will help Cambridge Aerospace expand its manufacturing capacity, deliver on existing contracts, and accelerate the development of new air defense systems.
“This raise is testament to the incredible work of the entire Cambridge Aerospace team. By bringing together the best talent in the world with a singular mission to protect Allied skies from threats we have achieved a huge amount already. The addition of these funds will allow us to continue to scale our manufacturing and our delivery to meet the pace of threats, and the needs of Allied nations," explains Steven Barrett, CEO of Cambridge Aerospace.
