Furientis has raised $25 million in seed funding led by Benchmark to develop and mass-produce lower-cost interceptor missiles for the U.S. military. The round marks Benchmark’s first investment in a company focused entirely on defense technology and follows Furientis’ $5 million pre-seed announced in May.
The one-year-old startup was valued at $125 million, according to a person familiar with the company who spoke with TechCrunch. Furientis has also secured a funded Pentagon contract for mid-range interceptors.
Furientis Designs Missiles For Higher Production Volumes
Furientis said in its funding announcement that it has completed 21 vehicle tests over the past 10 months, including 13 flight tests and eight static fires. The company has also opened the first of two planned propellant manufacturing facilities, which can currently support production and testing of dozens of solid rocket motors each month.
The startup designs its interceptors around manufacturability rather than trying to match every capability of more expensive systems. Its approach uses readily available components where possible and vertically integrates areas including seekers, airframes, control systems, and rocket motors.
CEO Brody Franzen said U.S. missile production is not keeping pace with potential demand. He told TechCrunch that the Navy receives roughly 300 to 500 interceptor missiles each year, while China claims monthly production of about 3,000 anti-ship cruise missiles.
Furientis eventually wants each factory to produce around 1,000 missiles annually. Its earlier company overview said its systems are being designed for production in the thousands per year, with a target cost around one-tenth that of comparable incumbent platforms.
Benchmark Backs A Faster Development Model
Benchmark general partner Chetan Puttagunta said Furientis had already manufactured prototypes and completed about a dozen launches using its initial $5 million in funding. The startup currently develops its systems in Los Angeles and conducts flight testing at White Sands, New Mexico.
Franzen previously worked as deputy chief engineer at Virgin Galactic before joining hypersonic missile company Castelion. Co-founder Aris Simsarian previously worked at Virgin Orbit, where he led rocket engine testing.
Furientis said the new funding will support hiring, expanded manufacturing and testing capabilities, and development across its existing programs. The company is competing in a market that also includes larger defense technology companies such as Anduril, Castelion, and Shield AI, alongside established contractors working to increase missile production.
Featured image credits: Magnific.com
For more stories like it, click the +Follow button at the top of this page to follow us.