Amid an ongoing surge in protection tech investing, superior manufacturing firm Divergent Applied sciences raised $290 million to increase manufacturing of missile elements and different specialised elements for the navy.
The spherical, which values the corporate at $2.3 billion, was first reported by Bloomberg. Divergent’s prospects embody main protection primes Lockheed Martin, RTX, and Normal Dynamics.
The brand new capital, of which $40 million is debt, will assist the corporate increase its manufacturing amenities in Los Angeles and to interrupt floor on a brand new manufacturing facility in Oklahoma subsequent yr. Divergent’s specialised 3D printers make as much as 600 elements, and CEO and co-founder Lukas Czinger advised Bloomberg that steel missile airframes are the corporate’s “bread and butter.”
The increase underscores investor urge for food for startups boosting America’s home manufacturing capabilities as weapons demand continues to pressure conventional provide chains.