Defense startup Hermeus has raised $350 million to build an unmanned hypersonic fighter aircraft, putting its valuation at $1 billion
Los Angeles: Defense startup Hermeus has raised $350 million to build an unmanned hypersonic aircraft that could fly at Mach 5 speeds. The company said it received $200 million in equity money from investors including Khosla Ventures, RTX Ventures, and media company Cox Enterprises. The remaining $150 million came in the form of debt financing.
Hermeus changed its approach a few years ago by using a modified Pratt & Whitney F100 engine instead of building its own. This change helped the company move faster toward its goals while working with the U.S. government. The company has already flown a small test version of its technology that was the size of an F-16 fighter aircraft.
The startup plans to make the next version of its aircraft fly faster than the speed of sound. A third version is being developed that could reach even higher speeds. Her meus co-founder AJ Piplica said the company needs to focus on hiring people who can build and test aircraft quickly.
The company is growing fast with almost 300 employees and has had two successful test flights. Piplica said part of building new aircraft is being ready for failures during testing. He compared Her meus’ approach to how SpaceX tests and improves its vehicles.