Amid the continued surge in defense technology investment, advanced manufacturer Divergent Technologies raised $290 million to expand production of missile parts and other specialized components.
The round valued the company at $2.3 billion was first reported by Bloomberg. Divergent's customers include the major defense Primes Lockheed Martin, RTX, and General Dynamics.
The new capital, which is $40 million in debt, will help the company expand its manufacturing facility in Los Angeles and break into its new Oklahoma plant next year. Divergent's professional 3D printers will make up to 600 copies, and CEO and co-founder Lukas Czinger told Bloomberg that the metal missile aircraft are the company's “bread and butter.”
Raise highlights investors' desire for startups that will boost domestic manufacturing capabilities in the United States as weapons demand continues to strain traditional supply chains.