Overview
- Altimeter Capital and Lightspeed led the Series B, with participation from Lavrock, Andreessen Horowitz, General Catalyst and others, according to the company.
- The funding backs Project Ranger in Sandoval County, New Mexico, which the company says will support solid rocket motor production, final assembly and capacity for thousands of missiles per year.
- Castelion plans a high‑tempo 2026 test cadence and continued integration of its Blackbeard weapon with U.S. Army and Navy platforms.
- The company reports more than 20 development flight tests in 2025, 25+ since founding, and over 50 missiles produced this year, claims not yet independently verified.
- Forbes reports Castelion remains in the demonstration phase with the U.S. government as its only customer, has amassed over $100 million in contracts, and is valued at about $2.8 billion after the round.