Hertha Metals lands $133.65M Series A, with the US government taking a stake
What's the deal? Hertha Metals, a US steel startup, has raised a $133.65 million Series A. The round includes a $65 million equity investment from the US governmentDealroom has a profile for this one. Try Dealroom →. Khosla Ventures and Doerr CapitalDealroom has a profile for this one. Try Dealroom → co-led the round, with participation from Clean Energy VenturesDealroom has a profile for this one. Try Dealroom →, Pear Ventures, Gates FrontierDealroom has a profile for this one. Try Dealroom →, Global BrainDealroom has a profile for this one. Try Dealroom →, Toyota VenturesDealroom has a profile for this one. Try Dealroom →, and Siemens Financial ServicesDealroom has a profile for this one. Try Dealroom →.
What's the endgame? The company plans to produce high-purity iron for domestically made rare earth magnets, according to its chief executive officer. Those magnets are key components in F-35 fighter jets and missile guidance systems.
Why now? The round follows a multibillion-dollar push by the Trump administration to bolster domestic rare earth and magnet projects. The government's direct equity stake ties Hertha's growth to that policy drive.
The signal: At $133.65 million, this ranks among the largest Series A rounds ever for US engineering and manufacturing equipment startups — the top 1% of 122 such deals. It underscores how national security concerns are pulling government money into early-stage industrial supply chains.
Read more: sohu.com
Image credit: Hertha Metals
