Funding round
Saronic Technologies Series A
Saronic Technologies, which works in autonomous surface vessel manufacturing in Austin, raised $55M in a Series A round announced on 10 Oct 2023, led by Caffeinated. 10 firms took part. It is Saronic Technologies' second venture round on record; the one before was a Seed in Jan 2022.
$55M
Amount raised
Not disclosed
Post-money valuation
10
Investors
1 lead
Valuation
What this round says about the price
Saronic Technologies did not disclose a valuation in this round. It came 21 months after Saronic Technologies' Seed. It is 2.1% of the $2.58B Saronic Technologies has raised in the venture rounds on record. Saronic Technologies raised again 9 months later: a Series B round of $175M in Jul 2024, at $1.00B post-money.
Saronic Technologies' funding rounds
Saronic Technologies has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Caffeinated led the round with 9 other firms.
Lead investor
- Caffeinated backs 79 venture-backed companies new investor
Also in the round
- 8VC new investor
- backs 20 venture-backed companies new investor
- Andreessen Horowitz backs 722 venture-backed companies new investor
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
- Point72 Ventures backs 72 venture-backed companies new investor
- Silent Ventures new investor
- backs 15 venture-backed companies new investor
- backs 19 venture-backed companies new investor
- backs 20 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
28 Series A rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $15M, and this round was 3.6 times the median. The closest in time, other companies' Series A rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Mach Industries Aerospace and Defence | 4 Oct 2023 | $79M | $335M | Bedrock |
| Aerospace and Defence | 16 Oct 2023 | $9.8M | not disclosed | New Legacy and Lerer Hippeau |
| Impulse Space Aerospace and Defence | 24 Jul 2023 | $45M | not disclosed | RTX |
| Aerospace and Defence | 23 Jan 2024 | $35M | not disclosed | Standard Investments |
| K2 Space Aerospace and Defence | 13 Feb 2024 | $51M | $250M | not named |
| Apex Aerospace and Defence | 22 Jun 2023 | $16M | not disclosed | Andreessen Horowitz and Shield Capital |
| Aerospace and Defence | 20 Jun 2023 | $10M | not disclosed | Peak XV Partners and Kalaari Capital |
| Aerospace and Defence | 5 Feb 2024 | $7.0M | not disclosed | Founders Fund |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Saronic Technologies raise in its Series A round?
Saronic Technologies raised $55M in its Series A round, announced in Oct 2023.
Who led Saronic Technologies' Series A round?
Caffeinated led it, with 8VC, United States Innovative Technology, Andreessen Horowitz, Lightspeed Venture Partners and Point72 Ventures and 4 more.
What was Saronic Technologies' valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Aerospace and Defence?
28 Series A rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $15M, and this round was 3.6 times the median.
Did Saronic Technologies raise again after this round?
Yes: a Series B round in Jul 2024 of $175M at $1.00B post-money.