Saronic Raises $1.75 Billion to Expand Autonomous Ship Production

AI Summary

Saronic has raised $1.75 billion to scale its production of autonomous vessels, aiming to meet increasing U.S. military demand. This funding round, led by Kleiner Perkins, raised Saronic's valuation to $9.25 billion from $4 billion after a previous $600 million round. The company plans to produce over 20 ships annually by 2027. Their main shipyard in Louisiana is receiving a $300 million expansion as its CEO notes the need for unmanned systems in modern military operations.