Hermeus, a United States-based defence technology startup, has recently raised $350 million in Series C round bringing its valuation to $1 billion.

According to Hermeus, the round was led by Khosla Ventures, Canaan Partners, Founders Fund, RTX Ventures, Bling Capital, and In-Q-Tel. New investors include Cox Enterprises and their venture fund Socium Ventures, Destiny Tech100, Georgia Tech Foundation, 137 Ventures, GSBackers, among others.

Debt capital is being provided by Silicon Valley Bank, a division of First Citizens Bank, Pinegrove Venture Partners, Hercules Capital, and Trinity Capital, as per Hermeus.

The company is developing a range of unmanned aircraft designed to operate at supersonic and hypersonic speeds. Its ongoing Quarterhorse programme includes multiple prototypes, with plans to advance from current test models to aircraft capable of reaching speeds of Mach 3 and beyond.

Hermeus said the new funding will support the development and scaling of its aircraft fleet, including upcoming prototypes, while expanding its engineering and manufacturing capabilities across facilities in Atlanta and Los Angeles.