Armada has raised $230 million in an oversubscribed Series B round at a $2 billion pre-money valuation to expand its modular AI data center manufacturing operations, which include the new 400,000-square-foot Galleon Forge One facility in Arizona.

Summary of transaction details:

• Deal Type: Series B
• Transaction Amount: $230,000,000
• Company Valuation: $2,000,000,000
• Headquarters: San Francisco, California
• Founder: Dan Wright
• Notable Investors: Overmatch, 8090 Industries, BlackRock, Johnson Controls, Dragon, Singtel Innov8, Founders Fund, Lux Capital, Shield Capital, Felicis, and Veriten
• Jobs Created: More than 500

The new factory will support the production of Leviathan, Armada's megawatt-scale modular AI data center platform designed for defense, energy, sovereign cloud, and edge AI deployments. The funding round was co-led by Overmatch, 8090 Industries, and BlackRock, with participation from various other investors.