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 US$86.5M Series A. The round includes US$42.1M equity investment from the US government.
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
