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Defense tech Hadrian raises $1.37B at $8B valuation
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TechCrunch
In BriefDefense tech Hadrian announced on Thursday that it had raised a fresh $1.37 billion round at a valuation of $7.87 billion from a mile-long list of well-known investors.
Hadrian is an interesting defense tech in that it’s not trying to build new AI-powered weapons.
The company is building automated manufacturing facilities that will mass-produce parts for the vehicles that the military complex already relies on.
For instance, in March, Hadrian opened a facility in Alabama to mass-produce parts for submarines, making that its fourth facility.
The deal for that facility, structured as a public/private partnership, was valued at $2.4 billion, Hadrian said.