Cambridge Aerospace has raised US$300 million (£222 million) in a Series C funding round at a US$3.4 billion (£2.5 billion) valuation to scale production of its low-cost drone interceptor systems.
The UK-based startup has raised more than US$636 million (approximately £471 million) since its inception in 2024, boosting its valuation.
The company’s first product, Skyhammer, a low-cost interceptor missile that entered rapid deployment with the UK Armed Forces and Gulf partners in April, is designed to counter one-way attack drones such as Iranian Shahed-style systems.
In July, Cambridge Aerospace was named one of three UK firms awarded contracts under the Low-Cost Air Defence Effectors program, the UK’s contribution to the five-nation Low-Cost Effectors and Autonomous Platforms framework launched by the UK, France, Germany, Italy and Poland in February, according to Aerotime.
Cambridge Aerospace was founded in 2024 by CEO Steven Barrett, a former MIT aerospace engineer now a professor at the University of Cambridge, chief commercial officer Chris Sylvan, previously a director at Anduril, and Junaid Hussain, founder of technology company Agon.
Two-thirds of the company’s more than 250 employees work in technical and engineering roles, drawing on veterans of Allied armed forces. Cambridge Aerospace plans to keep growing its workforce as it brings its next interceptor, Starhammer, to market in 2027.
The company also has operations in Germany, Poland, Norway, Ukraine and Australia, in addition to the UK.
Beyond Skyhammer and Starhammer, Cambridge Aerospace has developed a radar system, Looking Glass, and a solid rocket motor, Nightstar.
Barrett said, “The addition of these funds will allow us to continue to scale our manufacturing and our delivery to meet the pace of threats, and the needs of Allied nations.”
Wes Streeting, UK defense secretary, said, “This valuation is a great vote of confidence in Britain. Cambridge Aerospace’s Skyhammer is an example of the low-cost interceptor missiles our Armed Forces need to deter adversaries and keep our country safe.”
