Funding round
Hadrian Series A
Hadrian, which works in automated factory design and manufacturing in Torrance, raised $90M in a Series A round announced on 1 Apr 2022, led by Andreessen Horowitz and Lux Capital. 8 firms took part. It is Hadrian's first venture round on record.
$90M
Amount raised
Not disclosed
Post-money valuation
8
Investors
2 leads
Valuation
What this round says about the price
Hadrian did not disclose a valuation in this round. It is Hadrian's first venture round on record, 2 years after it was founded in 2020. It is 4.9% of the $1.84B Hadrian has raised in the venture rounds on record. Hadrian raised again 22 months later: a Series B round of $117M in Feb 2024. Its next priced round, a Series D in Aug 2026, valued it at $7.87B.
Hadrian's funding rounds
Hadrian has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Andreessen Horowitz and Lux Capital led the round with 6 other firms.
Lead investors
- Andreessen Horowitz backs 722 venture-backed companies new investor
- Lux Capital backs 194 venture-backed companies new investor
Also in the round
- Founders Fund backs 368 venture-backed companies new investor
- RTX Ventures new investor
- backs 31 venture-backed companies new investor
- Lachy Groom new investor
- Caffeinated backs 79 venture-backed companies new investor
- 137 Ventures backs 25 venture-backed companies new investor
Joined the board: Brandon Reeves (Lux Capital) and Katherine Boyle (Andreessen Horowitz).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, geographic expansion, scaling operations and working capital.
- Hiring
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
39 Series A rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $22M, and this round was 4.1 times the median. The closest in time, other companies' Series A rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Aerospace and Defence | 26 Apr 2022 | $27M | not disclosed | Crosslink Capital and Razor’s Edge Ventures |
| Aerospace and Defence | 5 Apr 2022 | $20M | not disclosed | Prime Movers Lab |
| Aerospace and Defence | 8 Apr 2022 | $5.6M | not disclosed | not named |
| Sierra Nevada Corporation Aerospace and Defence | 30 Mar 2022 | $1.40B | $4.50B | General Atlantic and Coatue |
| Aerospace and Defence | 20 May 2022 | $60M | not disclosed | HikeCapital |
| Aerospace and Defence | 28 Mar 2022 | $25M | not disclosed | Radical Ventures |
| Aerospace and Defence | 1 Mar 2022 | $20M | not disclosed | not named |
| Quantum Systems Aerospace and Defence | 8 Jun 2022 | $32M | not disclosed | Bayern Kapital |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Hadrian raise in its Series A round?
Hadrian raised $90M in its Series A round, announced in Apr 2022.
Who led Hadrian's Series A round?
Andreessen Horowitz and Lux Capital led it, with Founders Fund, RTX Ventures, Construct Capital, Lachy Groom and Caffeinated and 1 more.
What was Hadrian's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Aerospace and Defence?
39 Series A rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $22M, and this round was 4.1 times the median.
Did Hadrian raise again after this round?
Yes: a Series B round in Feb 2024 of $117M.