Hermeus Raises $350M at a $1B Valuation to Build Autonomous Hypersonic Fighters
April 7, 2026 – 1:08 pm
The Los Angeles defense startup flew a demonstrator the size of an F-16 in March. A third aircraft is now in development. CEO AJ Piplica states that the only way to build hypersonic aircraft at this pace is to accept hardware failures and plan for them.
Hermeus Raises Funds
Hermeus, a Los Angeles-based defense aviation startup developing autonomous hypersonic aircraft, has secured $350 million in funding, valuing the company at $1 billion. This round includes:
- $200 million in equity led by Khosla Ventures, with participation from Canaan Partners, Founders Fund, In-Q-Tel, and RTX Ventures.
- New investments from Cox Enterprises’ venture fund and Destiny Tech100, a publicly-traded closed-end investment company.
- The remaining $150 million is structured as debt to limit dilution during the company’s scaling process.
Development and Approach
Founded in 2018, Hermeus takes an iterative approach, building one aircraft per year to tackle specific technical challenges on the path to Mach 5 hypersonic flight. Last month, they flew their second demonstrator, approximately the size of an F-16 fighter, marking their second first flight in under a year. A third aircraft is currently in development.
Planning for Hardware Failures
CEO AJ Piplica emphasizes that hardware failure is not a risk to be avoided but rather a milestone to plan around. He expects crashes during the development program and ensures safe execution of these events.
Strategic Partnership
A pivotal decision to collaborate with RTX Ventures (formerly Raytheon) led to a partnership with their subsidiary, Pratt & Whitney. This collaboration enabled Hermeus to modify the F100 engine, commonly used in F-15 and F-16 fighters, for their hypersonic aircraft. This move streamlined development, shortened timelines, and opened government contracting opportunities.
Market Trends
The recent funding round reflects a broader trend in defense tech investment. According to PitchBook data cited by TechCrunch, global venture investment in defense tech crossed $9 billion across 265 rounds in 2025, with corporate investors contributing $2 billion.