Cambridge Aerospace Announces $300M Series C Raise

Cambridge Aerospace, the air defence company led by Steven Barrett, Chris Sylvan, and Junaid Hussain, announced the closure of its Series C round with $300M dollars of investment at a $3.4B valuation, led by DFJ Growth and supported by Lux, Accel, Lakestar, Never Lift, Ora Global, and Elad Gil & Co.

The financing will support Cambridge Aerospace’s continued growth by expanding manufacturing capacity to meet existing and new contracts, while advancing current products and developing next-generation capabilities.

The addition of DFJ Growth, alongside continued support from early investors, reflects confidence in Cambridge Aerospace’s ability to scale rapidly, deliver on existing contracts and invest in next-generation technology.

Since raising $200 million at a $1.3 billion valuation in its Series B, co-led by Elad Gil & Co. and Spark Capital in April, Cambridge Aerospace has secured several contracts from the UK Ministry of Defence, including a programme to provide low-cost interceptors for the UK Armed Forces. The initial contract was announced by the Defence Secretary at the London Defence Conference, followed by the launch of the Low-Cost Effectors & Autonomous Platforms (LEAP) programme in July.

Founded less than two years ago, Cambridge Aerospace has grown rapidly under a leadership team combining aerospace engineering, military and technology expertise. CEO Professor Steven Barrett brings extensive experience as an aerospace engineer, while CCO Chris Sylvan draws on more than a decade in the Royal Marines and subsequent work in emerging defence technology. Co-founder Junaid Hussain has founded several emerging technology companies.

More than two-thirds of Cambridge Aerospace’s 250-plus employees work in technical and engineering roles, alongside veterans from Allied armed forces. The team has enabled the company to develop and deliver its first product, Skyhammer, in a short timeframe, with the next product, Starhammer, scheduled to reach market in 2027. The company is continuing to expand its workforce and operates across the UK, Germany, Poland, Norway, Ukraine and Australia.

Cambridge Aerospace CEO Steven Barrett said the financing reflects the work of the company’s team and its focus on protecting Allied airspace. He added that the new capital will support expanded manufacturing and delivery capabilities to meet the evolving pace of threats and the requirements of Allied nations.

Randy Glein, Founder and Managing Partner at DFJ Growth, said Cambridge Aerospace is addressing a growing challenge in modern warfare with affordable and accurate counter-UAS technology. He highlighted the company’s team and technology as well positioned to develop advanced air-defense infrastructure for Europe and its allies.

UK Defence Secretary Wes Streeting said Cambridge Aerospace’s valuation reflects confidence in the UK’s defence technology sector. He highlighted Skyhammer as an example of the low-cost interceptor systems needed by the Armed Forces, while noting that the company’s growth supports the UK’s goal of developing high-value defence startups and skilled jobs.

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