Cambridge Aerospace raises €259.7M Series C at €2.94B valuation
The UK defence technology startup, founded less than two years ago, has more than doubled its valuation since April in a round led by DFJ Growth.
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Cambridge Aerospace, a UK-based defence technology company, has closed a €259.7 million ($300 million) Series C round at a valuation of €2.94 billion ($3.4 billion), the company said.
The round was led by US growth investor DFJ Growth, with participation from existing backers Lux, Accel, Lakestar, Never Lift, Ora Global and Elad Gil. According to Tech.eu, the financing follows a $200 million Series B in April this year that valued the company at $1.3 billion, marking a substantial increase in a matter of months.
The company said it will use the capital to expand its manufacturing capacity to fulfil existing and new contracts, continue developing its current products and bring new capabilities to market.
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