Defence technology company Cambridge Aerospace has raised $300 million at a valuation of $3.4 billion, two years after it was founded, in a series C funding round led by the San Francisco-based investor DFJ Growth.
The round takes the company’s total funding to $636 million since it was set up in 2024. The money will be used to expand development of its missile and drone interceptor systems and its manufacturing capabilities.
The company is developing Skyhammer, a low-cost anti-drone interceptor that is in production, and Starhammer, a rocket-powered interceptor missile built for higher-speed targets such as cruise missiles, which is due to come to market next year.
The Ministry of Defence announced in April that it was purchasing Skyhammer air defence systems, with deliveries starting from May. Skyhammer, which began development in January 2025, has a range of more than 18 miles and a top speed of 430mph, enabling it to intercept drones and low-speed missiles.
The latest raise follows a $200 million round in April at a $1.3 billion valuation, which took the company into the ranks of the UK’s billion-dollar start-ups. That round was co-led by the entrepreneur and investor Elad Gil and the venture capital firm Spark Capital. Gil also invested in the new round, alongside Lux, Accel and Lakestar among others.
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