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Coverage Timeline
newest first- Aug 21, 2026IPOThe Defense-Space IPO Ladder, By the Numbers→
- Aug 21, 2026IPOWhy I'm Wary of This Week's Pre-Revenue IPO Rush→
- Aug 20, 2026FUNDINGAugust's AI Infrastructure Deals Already Top $8.7B→
- Aug 20, 2026FUNDINGCastelion Hits $13B Value on $1B Hypersonic Missile Round$1B Series C at $13B→
- Aug 20, 2026IPOCastelion Hits $13B Valuation to Mass-Produce Missiles$1B Series C at $13B→
All Coverage
IPO
The Defense-Space IPO Ladder, By the Numbers
This week's Castelion, Lyntris and Gravitics numbers together show a wide split in how public and private markets are pricing defense and space companies at almost the same moment.
BY THE NUMBERS
IPO
Why I'm Wary of This Week's Pre-Revenue IPO Rush
IPO
Why I'm Wary of This Week's Pre-Revenue IPO Rush
Gravitics is reaching Nasdaq with zero revenue via reverse merger the same week Castelion raised private capital at 26x contracted revenue -- a pattern worth pushing back on before it becomes the default path for hardware startups.
TRACE'S TAKE
FUNDING
August's AI Infrastructure Deals Already Top $8.7B
FUNDING
August's AI Infrastructure Deals Already Top $8.7B
Databricks' $5B raise, Firmus' $2B round, Castelion's $1B Series C and Etched's $700M add up to $8.7B in AI infrastructure and adjacent capital-intensive funding in August alone.
BY THE NUMBERS
FUNDING
Castelion Hits $13B Value on $1B Hypersonic Missile Round
FUNDING$1B Series C at $13B
Castelion Hits $13B Value on $1B Hypersonic Missile Round
Castelion, the hypersonic-missile startup founded by former SpaceX executives, raised a $1B Series C co-led by Andreessen Horowitz, Carlyle and JPMorgan Chase at a $13B valuation, more than double its prior mark.
DEEP DIVE
IPO
Castelion Hits $13B Valuation to Mass-Produce Missiles
IPO$1B Series C at $13B
Castelion Hits $13B Valuation to Mass-Produce Missiles
Defense startup Castelion raised a $1B Series C co-led by Andreessen Horowitz, Carlyle and JPMorgan at a $13B valuation to mass-produce hypersonic missiles in New Mexico, as the Pentagon races to close a stockpile gap with China.
DEEP DIVE