Autonomous ship startup Saronic said Tuesday it has raised $1.75 billion as it ramps up production to meet the U.S. military’s growing demand for newer, cheaper defense capabilities.
The round, led by Kleiner Perkins, more than doubles Salonic’s valuation to $9.25 billion from the $4 billion it placed after raising $600 million early last year.
Saronic will use the funding to expand its supply chain and shipyards, including a new shipyard in Texas called Port Alpha, with plans to build more than 20 ships a year by 2027.
“We’re seeing a real shift in demand for unmanned systems that can be delivered at scale and at a fraction of the price of traditional ships,” CEO Dino Mavlukas said in an interview with CNBC’s Morgan Brennan.
Under President Donald Trump’s military modernization plan, the United States is scrambling to catch up to China’s vast shipbuilding capabilities and regain maritime supremacy. The war in Iran and the Strait of Hormuz bottleneck further demonstrate the need to integrate newer tools into modern warfare.
Saronic’s Spyglass and Cutlass autonomous surface ships.
Provided by: Saronic
Mavlukas said Saronic’s ships could reduce risk for troops in dangerous environments and help the United States chip away at China’s advantages. The company hopes to help the United States reach production levels not seen since World War II.
“We’re rethinking the whole ship,” he said, adding that ultimately the ship’s design will be reconfigured to achieve autonomy.
For years, Silicon Valley has poured billions of dollars into defense technology companies seeking to take business away from traditional defense contractors, including: lockheed martin, RTX and Northrop Grumman.
Ranked 19th on the latest CNBC 50 Disruptors list, Saronic is one of a growing number of defense companies backed by venture capital and winning government support. Last year, it was awarded a $392 million Navy contract. Last week, autonomous drone company Shield AI raised $2 billion at a valuation of $12.7 billion. Palantir and Anduril were also big winners under the Trump administration.
Austin, Texas-based Saronic has six iterations of its autonomous surface vessels, including a 6-foot-long vessel known as the Spyglass and its 40-metric ton Marauder.
Salonic’s main shipyard in Franklin, Louisiana, is currently undergoing a $300 million expansion. Mavlukas said the company is on pace to quintuple production there over the next 12 months.
