Funding round
Saronic Technologies Series B
Saronic Technologies, which works in autonomous surface vessel manufacturing in Austin, raised $175M in a Series B round announced on 19 Jul 2024, led by Andreessen Horowitz, at a $1.00B post-money valuation. 4 firms took part. It is Saronic Technologies' third venture round on record; the one before was a Series A in Oct 2023.
$175M
Amount raised
$1.00B
Post-money valuation
$825M pre-money
4
Investors
1 lead
18%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Saronic Technologies at $1.00B after the new money. The $175M bought investors about 18% of the company. It came 9 months after Saronic Technologies' Series A. It is 6.8% of the $2.58B Saronic Technologies has raised in the venture rounds on record. Saronic Technologies raised again 7 months later: a Series C round of $600M in Feb 2025, at $4.00B post-money.
Saronic Technologies' funding rounds
Saronic Technologies has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Andreessen Horowitz led the round with 3 other firms.
Lead investor
- Andreessen Horowitz backs 722 venture-backed companies new investor
Also in the round
- 8VC new investor
- Caffeinated backs 79 venture-backed companies new investor
- backs 21 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations.
- Scaling operations
Comparable rounds
How it compares
37 Series B rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $61M, and this round was 2.9 times the median. The closest in time, other companies' Series B rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Apex Aerospace and Defence | 12 Jun 2024 | $95M | not disclosed | XYZ and CRV |
| Aerospace and Defence | 18 Jun 2024 | $25M | not disclosed | Korea Development Bank and HL Mando Corporation |
| Aerospace and Defence | 4 Jun 2024 | $16M | not disclosed | not named |
| Quantum Systems Aerospace and Defence | 30 Sep 2024 | $112M | not disclosed | Notion Capital and Porsche SE |
| Forterra Aerospace and Defence | 10 Sep 2024 | $75M | not disclosed | Moore Strategic Ventures and XYZ |
| Aerospace and Defence | 8 May 2024 | $40M | not disclosed | Chartered Group |
| Impulse Space Aerospace and Defence | 1 Oct 2024 | $150M | not disclosed | Founders Fund |
| Varda Space Industries Aerospace and Defence | 5 Apr 2024 | $90M | not disclosed | Caffeinated |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Saronic Technologies raise in its Series B round?
Saronic Technologies raised $175M in its Series B round, announced in Jul 2024.
Who led Saronic Technologies' Series B round?
Andreessen Horowitz led it, with 8VC, Caffeinated and NightDragon.
What was Saronic Technologies' valuation at the Series B round?
$1.00B post-money ($825M pre-money).
How does it compare with other Series B rounds in Aerospace and Defence?
37 Series B rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $61M, and this round was 2.9 times the median.
Did Saronic Technologies raise again after this round?
Yes: a Series C round in Feb 2025 of $600M at $4.00B post-money.