Aerospace Group:

Advanced / Transformational Technology

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

By Cal Biesecker

Friday, July 19th, 2024

SHARE:

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…

Congress

Trump Wants Second Reconciliation Bill On His Desk By June 1

President Donald Trump on Wednesday called on Congress to pass and send a second reconciliation bill to his desk by June 1. The deadline follows congressional Republicans’ backing a pursuit […]

Space

Upgrading Current GPS Ground System “Now a Viable Option,” As GPS OCX Problems Continue, Space Official Says

Upgrades to the GPS ground system–the Architecture Evolution Plan (AEP)–is an option under consideration by the Defense Department’s space acquisition chief, as problems continue in fielding the GPS Next Generation […]

Congress

Graham Says GOP To Move Ahead On Second Reconciliation Bill, With Defense Funds As Priority

Senate Budget Committee Chair Lindsey Graham (R-S.C.) said Wednesday, with the White House’s backing, his panel will move “expeditiously” on crafting a second reconciliation bill, citing priorities for defense and […]

Pentagon

Hegseth Acknowledges Potential $200 Billion Iran Supplemental Request, Final Figure ‘Could Move’

Defense Secretary Pete Hegseth on Thursday acknowledged the Pentagon could potentially ask Congress for $200 billion in supplemental funding to support the ongoing operation against Iran and replenish munitions used […]