British defence startup Cambridge Aerospace hits £2.5bn valuation two years after launch; defence secretary calls it 'a great vote of confidence'

Cambridge Aerospace, a British defence startup, has reached a remarkable £2.5bn ($3.4bn) valuation just two years post-launch, following a recent funding round that more than doubled its worth since April. The company specializes in developing interceptor systems for drones, radar systems, and rocket motors.¹⁴⁹¹⁰

The Defence Secretary praised this achievement as a "great vote of confidence" in the UK’s commitment to defence innovation, emphasizing its role in maintaining the country’s leadership in the sector. The rapid valuation increase is attributed to a series of contracts with the UK Armed Forces, which have bolstered the company’s reputation and financial standing.³

Employing over 250 highly skilled workers, Cambridge Aerospace also operates in several European countries, including Germany and Ukraine, as well as Australia. It is one of three UK-based defence firms to achieve unicorn status, alongside Uforce and Kraken Technology Group, marking a significant milestone for the UK defence industry, which previously had none.

Professor Steven Barrett, the firm’s CEO, stated, “By bringing together the best talent in the world with a singular mission to protect Allied skies from threats we have achieved a huge amount already. The addition of these funds will allow us to continue to scale our manufacturing and our delivery to meet the pace of threats, and the needs of Allied nations.”¹²¹³

In May, the government signed contracts worth up to £4m to support various startups, although Cambridge Aerospace was not among the recipients.