Castelion raises more than $1 billion to expand hypersonic-missile production

Defense-technology startup Castelion announced more than $1 billion in new financing, comprising $800 million in equity and a $250 million committed revolving credit facility. The Series C values the company at $13 billion, according to the company. Castelion said it will use the funding to expand production of its Blackbeard hypersonic strike missile in New Mexico and accelerate longer-range strike and air- and missile-defense systems. The company has targeted initial Blackbeard fielding for 2027, after integration, flight testing and certification.