Hermeus raises $350M at $1B valuation to build autonomous hypersonic warplanes
What's the deal? Los Angeles-based defence startup Hermeus has raised $350 million at a $1 billion valuation, becoming a unicorn.
The round comprises $200 million in equity, led by Khosla Ventures, with participation from existing investors Canaan Partners, Founders Fund, In-Q-Tel — the CIADealroom has a profile for this one. Try Dealroom →'s venture arm — and RTX VenturesDealroom has a profile for this one. Try Dealroom →, as well as new investors Cox EnterprisesDealroom has a profile for this one. Try Dealroom → and Destiny Tech100Dealroom has a profile for this one. Try Dealroom →.
The remaining $150 million comes as debt financing, which co-founder and chief executive officer AJ PiplicaDealroom has a profile for this one. Try Dealroom → says allows the company to fund capital-intensive hardware development without excessive dilution.
Hermeus is building autonomous hypersonic aircraft for the US military — capable of flying at Mach 5 or above, roughly five times the speed of sound. The startup has nearly 300 employees and has completed two successful test flights, including a demonstrator the size of an F-16 fighter in March 2026.
It is working with Pratt & WhitneyDealroom has a profile for this one. Try Dealroom →, a subsidiary of defence contractor RTXDealroom has a profile for this one. Try Dealroom →, to modify an existing F100 engine to power its vehicles — a pivot from developing its own engine that has accelerated its timeline and unlocked government contracts.
Why now? Defence tech is attracting venture capital at scale, with investment in the sector surging globally in 2025. The US military's demand for faster, autonomous strike capability has intensified amid great-power competition, and hypersonic weapons have become a strategic priority — both the US and China are racing to field them. Hermeus's rapid-prototyping approach, modelled on SpaceX's iterative development philosophy, has proven credible enough to win government contracts while still in the test phase.
What could go wrong? Hypersonic flight remains one of the most technically demanding frontiers in aerospace. Hermeus acknowledges it expects to crash aircraft during development, and Piplica notes that there is nowhere in the world where companies are building new full-scale aircraft on an annual basis — meaning the talent and institutional knowledge required barely exist.
The company is also dependent on a single primary customer, the US military, making it vulnerable to budget cycles, political shifts, and procurement delays. The $150 million debt component adds financing obligations on top of the execution risk of developing unproven technology.
The signal: Hermeus reflects the broader convergence of Silicon Valley capital and American military ambition. Defence tech has moved from the fringe of venture into the mainstream, with Founders Fund and Khosla — two of Silicon Valley's most prestigious firms — both backing the same hypersonic aircraft startup.
The rapid-prototyping philosophy borrowed from SpaceX is being applied to one of the most complex hardware challenges in existence. If it works, Hermeus could define a new generation of autonomous air combat. If the procurement pipeline slows or the technology stalls, the bill will be steep.
Sources:
Hermeus
PR Newswire
TechCrunch
Bloomberg Law
Image credit:
Hermeus
J.V.
