Defense startup Hermeus has raised $350 million in a funding round comprising $200 million in equity and $150 million in debt financing. The equity investment was led by Khosla Ventures, with participation from Canaan Partners, Founders Fund, In-Q-Tel, RTX Ventures, Cox Enterprises, and Destiny Tech100. The round brings Hermeus’s valuation to $1 billion as it focuses on developing what it considers the fastest unmanned aircraft.

Summary of transaction details:

• Deal Type: Funding Round
• Transaction Amount: $350,000,000
• Valuation: $1,000,000,000
• Headquarters: Atlanta, Georgia
• Founders: AJ Piplica, Skyler Shuford, Glenn Case, Mike Smayda
• Notable Investors: Khosla Ventures, Canaan Partners, Founders Fund, In-Q-Tel, RTX Ventures, Cox Enterprises, Destiny Tech100

Hermeus aims to enhance its capabilities in hypersonic aircraft through rapid prototyping and ongoing development toward a Mach 5-capable autonomous platform. CEO AJ Piplica noted that the debt component is intended to help preserve ownership as the company expands its manufacturing and workforce, which currently totals nearly 300 employees.