- GalaxEye has acquired StarOps to enhance its satellite engineering capabilities.
- Cambridge Aerospace has raised $300 million in a Series C funding round, achieving a $3.4 billion valuation, led by Anduril and DFJ Growth.
- UK defence secretary Wes Streeting described the valuation as a vote of confidence in Britain.
- The $300 million funding round for Cambridge Aerospace was also supported by Elad Gil & Co., Accel, Lakestar, and Never Lift.
- Cambridge Aerospace's main product is the Skyhammer, a drone and low-speed missile interceptor, with plans to launch the Starhammer in 2027.
- The recent funding will enhance manufacturing capabilities and support contract deliveries for Cambridge Aerospace.
- In April, the UK government announced a deal with Cambridge Aerospace to supply interceptor missiles to the UK armed forces and its Gulf partners.
Indian startup GalaxEye has acquired Bengaluru-based StarOps, enhancing its satellite engineering capabilities. The acquisition integrates StarOps' technologies and expertise, crucial for developing earth observation systems using OptoSAR technology.1
StarOps has achieved over 66% indigenisation in its satellite systems, reducing reliance on global supply chains.
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Meanwhile, UK air defense startup Cambridge Aerospace has reached a $3.4 billion valuation after a $300 million Series C funding round, led by DFJ Growth. This funding reflects a surge in interest for air defense systems, particularly in light of conflicts in Ukraine and Iran.24
Cambridge Aerospace's primary product, Skyhammer, is designed to intercept drones and low-speed missiles, with plans to launch the rocket-powered Starhammer by 2027.5
The UK government has partnered with Cambridge Aerospace to supply interceptor missiles to its armed forces, further solidifying the company's role in national defense.
“This valuation is a great vote of confidence in Britain,” said UK defense secretary Wes Streeting, emphasizing the importance of supporting startups in the defense sector.3
“The $300m Series C was led by Anduril and DFJ Growth, with participation from Lux Capital, Lakestar, and Elad Gil. Cambridge Aerospace's Skyhammer interceptor was tested in Jordan in May, and the company plans to launch its rocket-powered Starhammer by 2027.”
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