Funding round
Performance Drone Works Series B
Performance Drone Works, which works in unmanned aerial system solutions development in Huntsville, raised $110M in a Series B round announced on 25 Mar 2026, led by Ondas. 7 firms took part.
$110M
Amount raised
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
Performance Drone Works did not disclose a valuation in this round. It is Performance Drone Works' first venture round on record, 5 years after it was founded in 2021. No later venture round is on record for Performance Drone Works.
Performance Drone Works' funding rounds
This is the only venture round on record for Performance Drone Works.
- Other not a venture round 20 Nov 2025 $35M
- Series B this round 25 Mar 2026, led by Ondas $110M
- Debt not a venture round 31 Jul 2026 $820M
Investors
Who put money in
Ondas led the round with 6 other firms.
Lead investor
- Ondas new investor
Also in the round
- Hood River new investor
- backs 3 venture-backed companies new investor
- backs 13 venture-backed companies new investor
- Booz Allen Hamilton new investor
- Lux Capital backs 194 venture-backed companies new investor
- backs 12 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
30 Series B rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $34M, and this round was 3.3 times the median. The closest in time, other companies' Series B rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Aerospace and Defence | 13 Mar 2026 | $20M | not disclosed | Stride Capital Group |
| Aerospace and Defence | 7 Apr 2026 | $100M | not disclosed | Point72 Ventures and Activate Capital |
| Aerospace and Defence | 29 Apr 2026 | $82M | not disclosed | Washington Harbour |
| Aerospace and Defence | 15 Apr 2026 | $75M | not disclosed | Washington Harbour |
| Aerospace and Defence | 22 Apr 2026 | $25M | not disclosed | Lockheed Martin |
| Aerospace and Defence | 7 May 2026 | $30M | not disclosed | Industrious Ventures |
| Aerospace and Defence | 4 May 2026 | $25M | not disclosed | MESH |
| Castelion Aerospace and Defence | 5 Dec 2025 | $350M | not disclosed | Altimeter and Lightspeed Venture Partners |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Performance Drone Works raise in its Series B round?
Performance Drone Works raised $110M in its Series B round, announced in Mar 2026.
Who led Performance Drone Works' Series B round?
Ondas led it, with Hood River, Cedar Pine, HAM Ventures USA, Booz Allen Hamilton and Lux Capital and 1 more.
What was Performance Drone Works' valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Aerospace and Defence?
30 Series B rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $34M, and this round was 3.3 times the median.