Funding round
Mach Industries Seed
Mach Industries, which works in defense platform development and manufacturing in Huntington Beach, raised $5.7M in a Seed round announced on 16 Jun 2023, led by Sequoia Capital. 10 firms took part. It is Mach Industries' first venture round on record.
$5.7M
Amount raised
Not disclosed
Post-money valuation
10
Investors
1 lead
Valuation
What this round says about the price
Mach Industries did not disclose a valuation in this round. It is Mach Industries' first venture round on record, 1 year after it was founded in 2022. It is 1.2% of the $485M Mach Industries has raised in the venture rounds on record. Mach Industries raised again 4 months later: a Series A round of $79M in Oct 2023, at $335M post-money.
Mach Industries' funding rounds
Mach Industries has 4 venture rounds on record. This one is highlighted.
Investors
Who put money in
Sequoia Capital led the round with 9 other firms.
Lead investor
- Sequoia Capital backs 589 venture-backed companies new investor
Also in the round
- backs 4 venture-backed companies new investor
- Khosla Ventures backs 396 venture-backed companies new investor
- backs 38 venture-backed companies new investor
- DCVC backs 171 venture-backed companies new investor
- backs 22 venture-backed companies new investor
- backs 39 venture-backed companies new investor
- backs 4 venture-backed companies new investor
- BoxGroup backs 175 venture-backed companies new investor
- backs 6 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development and hiring.
- Product development
- Hiring
Comparable rounds
How it compares
44 Seed rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $4.3M, and this round was 1.3 times the median. The closest in time, other companies' Seed rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Aerospace and Defence | 23 Jun 2023 | $13M | not disclosed | Caruso Ventures |
| ATMOS Space Cargo Aerospace and Defence | 22 Jun 2023 | $4.4M | not disclosed | High-Tech Gründerfonds and Amadeus Capital |
| Aerospace and Defence | 30 Aug 2023 | $7.4M | not disclosed | Inventure |
| Aerospace and Defence | 5 Apr 2023 | $4.0M | not disclosed | MaC Venture Capital |
| Aerospace and Defence | 14 Aug 2023 | $3.5M | not disclosed | Hesai Technology and ZhenFund |
| K2 Space Aerospace and Defence | 10 Mar 2023 | $8.5M | $45M | First Round and Republic Capital |
| Aerospace and Defence | 28 Mar 2023 | $2.2M | not disclosed | not named |
| Aerospace and Defence | 15 Mar 2023 | undisclosed | not disclosed | not named |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Mach Industries raise in its Seed round?
Mach Industries raised $5.7M in its Seed round, announced in Jun 2023.
Who led Mach Industries' Seed round?
Sequoia Capital led it, with Marque Ventures, Khosla Ventures, Bedrock, DCVC and 1517 Fund and 4 more.
What was Mach Industries' valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Aerospace and Defence?
44 Seed rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $4.3M, and this round was 1.3 times the median.
Did Mach Industries raise again after this round?
Yes: a Series A round in Oct 2023 of $79M at $335M post-money.