Mach Industries $300M Series C at $1.8B Valuation: The Propulsion Moat

Mach Industries raised $300 million in a Series C on June 1, 2026, lifting its valuation from approximately $470 million a year earlier to $1.8 billion, in a round led by Infinite Capital and Ribbit Capital. The raise arrived weeks after the company spent approximately $50 million to acquire Exquadrum, a California solid rocket motor specialist that now operates as Mach Energetics. The paired moves define a company competing on vertical integration: Mach is one of a very small number of private US defense companies able to design, propel, and deliver an autonomous strike system from a single industrial stack. In a market where domestic solid rocket motor production has consolidated to two manufacturers of scale, ownership of a captive propulsion capability eliminates the single most constrained supply chain dependency in the autonomous strike sector.