:

Advanced / Transformational Technology

Saronic Adds $175 Million In New Funding Round To Expand Manufacturing, Pursue International Markets

By Cal Biesecker

Friday, July 19th, 2024

SHARE:

Saronic Adds $175 Million In New Funding Round To Expand Manufacturing, Pursue International Markets

Multiple Saronic autonomous surface vessels in formation during testing in Texas. Photo: Saronic

Startup autonomous surface vessel (ASV) developer and manufacturer Saronic last Friday said it raised $175 million in a new funding round that will be used to accelerate and expand its manufacturing, boost research and development, and support international pursuits. The Series B funding round places the Austin, Texas-based company’s valuation at $1 billion and was led by Andreesen Horowitz (a16z), with participation from 8VC, Caffeinated Capital, technology entrepreneur Elad Gil, NightDragon, and others. Saronic this spring said it had acquired…

Congress

Senior GOP HASC Members Wittman, Turner Ousted Amid Dems’ Blue Wave

Two senior Republicans on the House Armed Services Committee, including a potential frontrunner for the panel’s top GOP role, have officially lost their reelection bids. Reps. Rob Wittman (R-Va.) and […]

Congress

Dems’ Big Night Set To Reshape Top Defense Committee Spots, As Key GOP’ers Knocked Off

Democrats’ sweeping victories in Tuesday’s midterms, taking back control of the House and Senate, are set to reshape key spots atop defense committees, to include House Armed Services panels and […]

Congress

Key Defense Committee Members Face Tight Midterm Races, Including HASC GOP’ers In Virginia

As the mid-term elections near with polls showing an increasing likelihood of a switch in majority control in the House and potentially the Senate, three Virginia Republicans on the House […]

‘Theoretical Potential’ to Achieve 1,509 Combat-Coded Fighters by 2035, USAF Says

In the latest U.S. Air Force fighter force structure report submitted to Congress, the service speaks of a “theoretical potential” to achieve a goal of 1,509 combat-coded fighters in the […]