Overview
- Cambridge Aerospace closed a $300 million Series C on Monday at a $3.4 billion valuation with DFJ Growth leading the round and participation from Lux, Accel, Lakestar, Never Lift, Ora Global and Elad Gil & Co.
- The company says the funds will expand production of Skyhammer, a tube‑launched, radar‑guided interceptor designed to cost in the tens of thousands of dollars per round to counter mass‑produced attack drones.
- Cambridge has existing Ministry of Defence contracts announced in April and received one of three UK awards under the five‑nation LEAP programme in July, with initial deliveries and multinational trials planned to follow.
- The startup has grown to more than 250 staff and set up operations in Germany, Poland, Norway, Ukraine and Australia as it moves from rapid prototyping into volume manufacture to meet military demand.
- The raise highlights a fast‑moving European defence market that is pouring capital into lower‑cost effectors, a shift driven by the cost mismatch of cheap attack drones and expensive traditional interceptors and one that could reshape defence budgets and procurement choices.