Hermeus raises $350M to build autonomous hypersonic fighters

Defense startup Hermeus has raised $350 million to keep developing what it calls the “fastest unmanned aircraft,” in a funding round that has pushed its valuation to $1 billion. The Los Angeles-based startup said Tuesday that it has raised $200 million in equity financing, led by Khosla Ventures. Existing investors Canaan Partners, Founders Fund, In-Q-Tel, and RTX Ventures also participated. New outside money is coming from the venture fund of media conglomerate Cox Enterprises, the publicly-traded closed-end management investment company Destiny Tech100, and others.