Defense Startup Mach Industries Hits $1.8 Billion Valuation in $300 Million Round

Defense technology startup Mach Industries closed a $300 million funding round on June 1, 2026, achieving an $1.8 billion valuation—more than triple its 2025 value of $470 million. Infinite Capital and Ribbit Capital co-led the round. The three-year-old company, founded by MIT dropout Ethan Thornton, reflects accelerating venture capital deployment into defense technology amid geopolitical tension and military modernization priorities.