Saronic Technologies, Austin, Texas, has announced the successful closure of a $600 million Series C funding round, bringing its valuation to $4 billion — quadrupling its worth in just seven months. The round, led by Elad Gil, has also attracted new investment from General Catalyst and continued backing from existing partners including a16z, Caffeinated Capital, and 8VC.
The funding aims to accelerate the development of Saronic’s autonomous maritime systems and is a step in advancing the U.S. military's push for a hybrid fleet of crewed and uncrewed vessels. With a strategic focus on naval and maritime autonomy, the company plans to use the capital to establish Port Alpha, a next-generation shipyard designed to rapidly scale the production of autonomous surface vessels (ASVs). The shipyard will be a cornerstone in Saronic’s effort to fill critical gaps in U.S. shipbuilding capacity, enabling the production of medium- and large-class uncrewed ships for defense applications.
“A core principle of Saronic is that we design our vessels for autonomy from the keel up”, said Saronic CEO and co-founder Dino Mavrookas. “We will take the same approach with Port Alpha, designing a shipyard from the ground up to produce at a speed and scale not seen since World War II. Port Alpha will reflect the apex of America’s shipbuilding past — generating new opportunities for the country’s shipbuilding workforce, forging public-private partnerships to accelerate growth, and bringing innovation and ingenuity to an essential industry. We will bring these elements together with a single goal: to rapidly build a fleet of autonomous vessels in America that redefine maritime superiority and guarantees freedom of the seas for generations to come.”
The creation of Port Alpha comes at a pivotal time when the U.S. Navy is moving toward a hybrid fleet, blending crewed vessels with uncrewed systems to enhance operational reach and reduce costs. Saronic’s new shipyard will build upon the company's previous successes in developing small ASVs, including its 24' flagship model, Corsair, launched in 2024, as well as its 14' Cutlass and 6' Spyglass. With its new facility and robust investment, Saronic aims to expand its fleet of autonomous ships and address growing demand from U.S. government customers, including military and defense organizations.
Elad Gil, CEO, Gil Capital, said, “The last years have seen a degradation in the capacity for the United States to build ships and to manufacture core needs of the country. I am excited to back Saronic and its focus on revitalizing shipbuilding in America, while also building products to defend those interests.”
Saronic’s Series C funding comes on the heels of a successful 2024, which saw the company deliver its largest ASV to date, acquire a 420,000-square-foot manufacturing facility in Austin, Texas, and secure continued growth through its $175 million Series B round.
Paul Kwan, managing director, General Catalyst, said, “The velocity and economics of warfare have fundamentally evolved and several of our own team have witnessed firsthand how unmanned systems became true force multipliers in Afghanistan and in other theaters of conflict. Saronic represents a paradigm shift for our maritime resilience.”
Saronic’s rise is part of a broader effort to reshape how the U.S. Navy and its allies approach shipbuilding in the face of rapidly advancing technological capabilities. The Navy sees uncrewed vessels as a means to enhance operational capabilities, reduce risks to personnel, and improve cost-efficiency in maritime missions.
