Hermeus has raised $350M, at a $1B valuation

Hermeus, a Los Angeles-based defence startup building autonomous hypersonic aircraft, has raised $350M at a $1B valuation. The round includes $200M in equity led by Khosla Ventures and $150M in debt. The company flew its second demonstrator — F-16-sized — in March, with a third aircraft now in development. CEO AJ Piplica embraces hardware failure as part of the iterative build cycle, citing SpaceX as the closest model. A key strategic shift involved partnering with Pratt & Whitney to adapt the F100 engine rather than building from scratch, shortening timelines and opening DoD contracting opportunities. The raise comes amid a surge in defence tech investment, with global venture funding in the sector crossing $9B last year.