Hydrogen-powered defense systems including long-range UAVs, missiles, and munitions for the U.S. military
Mach Industries was founded by then-19-year-old Ethan Thornton (MIT dropout) and develops hydrogen-fueled defense platforms including the Stratos balloon system and a portfolio of glide and loitering munitions. Public reports peg the company near $470M valuation in early 2026 after a Series B led by Bedrock; some later reports suggested a multi-billion-dollar Series C is being discussed but is unconfirmed. Holds multiple DoD contracts.
Defense📍 Huntington Beach, CAFounded 2023
Current Valuation
$470M
as of 2026-Q1
PRIVATE
IPO Outlookprivate
Is Mach Industries going public?
No. Mach Industries is private and has not filed to go public. There is no S-1 on file.
What is Mach Industries' valuation in 2026?
Mach Industries is valued at $470M as of 2026-Q1, set by its Series B (2025-Q4). That is the last confirmed mark, not a live price — private shares do not trade continuously.
Mach Industries has raised $150M in total, most recently a Series B in 2025-Q4.
Is Mach Industries publicly traded — can you buy Mach Industries stock?
No. Mach Industries is a private company — its shares are not listed on any exchange and there is no ticker. The routes to exposure are pre-IPO secondary marketplaces and funds (accredited investors), employee tender offers when the company runs one, and public companies with read-through exposure. QuantLogix maps every route it can verify for Mach Industries on its Pre-IPO Access Desk.
Answers are derived from the roster record shown on this page — filing status, last round and confirmed marks. Where the record is silent, the answer says so rather than guessing.
Company Profile
CEO
Ethan Thornton
Founded
2023
HQ
Huntington Beach, CA
Employees
~200
Total Raised
$150M
Growth
rapid DoD contract growth
IPO Status
private
Fundraising Status
Series B
privateTotal raised $150M
Secondary Market
Implied price / share
$2.95
Last round price / share
$3.62
vs last round
-18.5%
Open interest
10
Last round price vs secondary price
Secondary price return by period
Implied per-share price from private secondary transactions, as of Jun 2026. This is a point estimate, not a quote — the feed carries no bid, ask or spread, and a secondary print is evidence of what someone paid on that date rather than a live market. Compare across every tracked name →
Latest Funding Round
Round
Amount
Date
Lead Investor
Post-Money
Series B
—
2025-Q4
Bedrock Capital
—
Vertical Intelligence — Defense / Aerospace
Federal awards
6
prime contracts, last 36 months
Obligated
$1.86M
top: Department of Defense
Largest award
$1.5M
Department of Defense
Latest award
2026-06-30
Largest award: BAA STRATEGIC STRIKE (W911NF24C0085)
Name-verified against recipient "MACH INDUSTRIES INC" on USASpending.gov as of 2026-10-05. Prime awards only — subcontracts and classified work are not visible in the public registry. Verify on USASpending.gov ↗
Talent Signal
Hiring trend
▲ Hiring uptrend
+23% vs 2026-08
Open roles
117
via greenhouse
Product-build share
78%
engineering, research, product, design
Trajectory
scaling
heavy product build — 78% of open roles are product-building functions (engineering/research/product) — 52 of 117 open roles are engineering.
Executive bench growing while hiring expands: 1 senior hire (President); open roles trending up.
Open roles by month
Open roles by function
■ product-building ■ go-to-market / G&A
Key Executive Moves
INNathan DillerPresident · 2026-08-28
From trusted-source news extraction (deep-enrich pipeline); dates approximate publication, not effective date.
Air Vehicle Design Engineer, Configuration & OMLAutomation EngineerAutomation Engineer, ControlsAutonomy and Robotics Software EngineerAvionics Technician Build Engineer
Counted from Mach Industries's live job board as of 2026-09-14; role functions classified from posting titles. Open-role counts are an activity signal, not headcount. Refreshed monthly.
Founders & Key People
Ethan Thornton
Investors
Sequoia Capital · Bedrock Capital · Khosla Ventures · 8VC
Products
Stratos high-altitude balloon platform
Glide munitions
Hydrogen-powered drones
Long-range strike systems
Competitors
Anduril · AeroVironment · L3Harris · Lockheed Martin
DefenseMunitionsHydrogenDoDFounder under 25
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2026-Q1. Refreshed quarterly.