Hermeus raises $350 million, reaches $1 billion valuation to accelerate development of high-speed military aircraft

The company said the financing will support its transition from prototyping to mission-ready platforms. It aims to develop what it describes as the fastest unmanned aircraft currently in operation.

Hermeus recently completed the flight of its Quarterhorse Mk 2.1 test aircraft. Officials said the program is now approaching supersonic flight capability.

The company plans to expand to a fleet of three aircraft comparable in size to an F-16. This step is intended to support further development toward Mach 3 speeds and integration of customer payloads.

To support these efforts, Hermeus is expanding its operational footprint. A new headquarters is being established in El Segundo, California, while its Atlanta facility will shift toward production activities.

AJ Piplica, founder and chief executive officer, said the funding will accelerate development timelines. “Speed is life for us,” he said.

“This new funding lets us build multiple aircraft at the same time and scale our manufacturing capabilities, adding more hardware richness and robustness to our program,” Piplica added. “That accelerates our path to ramjet-powered flight.”

He said the company’s approach focuses on rapid iteration and scalability. “We are grateful for the support of our long-term partners who share our vision of building fast planes fast,” Piplica said.

“Together, we’re bringing scalable, asymmetric capabilities to our national security customers,” he added. The company said its hardware-first model is designed to shorten development cycles.

Vinod Khosla, founder of Khosla Ventures, said the investment reflects confidence in the company’s progress. “We’ve been believers in Hermeus from the start, and we couldn’t be happier to lead this Series C,” he said.

“The team is on a clear trajectory to solve a critical capability gap for their customers by building, flying, and iterating at a pace that matches the modern battlefield,” Khosla added. Investors said the company’s development model aligns with evolving defense needs.

Andrew Davis, managing partner at Socium Ventures, described the funding as a milestone. “We’ve had a front-row seat to watch this team execute at the pace and precision this mission demands,” he said.

“This Series C marks an important inflection point for the company,” Davis added. “Cox Enterprises and our venture fund, Socium Ventures are proud to support them as they accomplish significant milestones this year.”

The financing includes $200 million in equity and $150 million in debt. Hermeus said total capital raised now exceeds $500 million.

The company said the investment will accelerate its efforts to deliver high-speed aviation capabilities. It aims to address emerging defense requirements through rapid development and deployment of advanced systems.