Mach adds $600 million after beating eight buyers for Exquadrum
Summary
Mach Industries raises a $600 million Series C extension after paying $50 million in cash and equity for Exquadrum, outbidding at least eight suitors and expanding into solid rocket motors through its new Mach Energetics unit.
Key Points
- Mach Industries raises a $600 million Series C extension, following its June $300 million Series C; Ribbit Capital, Infinite Capital, Bedrock Capital and Sequoia invest in both tranches.
- Mach acquires solid rocket motor startup Exquadrum in a $50 million cash-and-equity deal in May, beating at least eight prospective buyers and launching its Mach Energetics business.
- Founded by 22-year-old MIT dropout Ethan Thornton, Mach operates a 115,000-square-foot Huntington Beach facility and has secured a U.S. Army contract this year.