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Advanced / Transformational Technology

Saronic Adds $175 Million In New Funding Round To Expand Manufacturing, Pursue International Markets

By Cal Biesecker

Friday, July 19th, 2024

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Saronic Adds $175 Million In New Funding Round To Expand Manufacturing, Pursue International Markets

Multiple Saronic autonomous surface vessels in formation during testing in Texas. Photo: Saronic

Startup autonomous surface vessel (ASV) developer and manufacturer Saronic last Friday said it raised $175 million in a new funding round that will be used to accelerate and expand its manufacturing, boost research and development, and support international pursuits. The Series B funding round places the Austin, Texas-based company’s valuation at $1 billion and was led by Andreesen Horowitz (a16z), with participation from 8VC, Caffeinated Capital, technology entrepreneur Elad Gil, NightDragon, and others. Saronic this spring said it had acquired…

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