June 15 (Reuters) - Defense startup Mach Industries has raised $5.7 million in a seed round led by Sequoia Capital, the first-ever defense tech investment in the venture capital giant's history, the two companies said.
"Defense technology is central to our safety.
However, aging defense systems and ailing supply chains mean the U.S. has a big opportunity to innovate in service of national security," Shaun Maguire, partner at Sequoia, who led the deal, told Reuters via email.
"There is a major modernization effort underway to advance the U.S. defense technology and build a new generation of military systems."
Founded by MIT dropout and Thiel Fellow Ethan Thornton in 2022, Mach Industries focuses on building a hardware solution using field-sourced hydrogen creation and combustion techniques.
Persons:
Shaun Maguire, Ethan Thornton, Mach, We've, ” Thornton, Thornton, Krystal Hu, Leslie Adler
Organizations:
Defense, Industries, Sequoia Capital, U.S, Department of Defense, Sequoia, MIT, Mach Industries, Reuters, Pentagon, Thomson
Locations:
Silicon Valley, U.S, Austin , Texas, Boston, Austin, San Francisco