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Hypersonic weapons startup Castelion is in the process of raising a $350 million Series B funding round, with Lightspeed Venture Partners and Altimeter Capital leading the investment. According to sources and documents obtained by TechCrunch, the round, which values the company in the billions, is expected to close in the coming weeks.
Breaking into the government defense market is no easy feat for nontraditional players, but Castelion, founded by former SpaceX executives, has been making significant progress since emerging from stealth in late 2023. The company aims to revolutionize the production of hypersonic missile systems, a crucial national security technology.
With China’s rapid advancements in hypersonics posing a challenge to the United States, Castelion is offering a solution by adopting a strategy similar to SpaceX’s approach: rapid development, frequent testing, and vertical integration to reduce costs. The company has already received grants and awards from various DoD offices, including the Air Force Research Laboratory and the Naval Air Systems Command.
Castelion’s recent appearance in the U.S. Army’s fiscal year 2026 budget request highlights its potential impact in the hypersonic weapons market. Through the development of the “Blackbeard Ground Launch” system, the company aims to deliver an affordable, mass-produced hypersonic weapon that meets the Army’s requirements for cost-effective solutions.
If successful, Castelion could secure a larger contract and commence deliveries of Blackbeard missiles as early as 2028, potentially posing a competitive threat to industry giants like Lockheed Martin, Raytheon, and Northrop Grumman.
