How a Gen Zer constructed a $3.7 billion protection tech startup backed by Sequoia

That’s greater than double the $1.8 billion valuation Mach reached simply three months earlier when it raised its preliminary $300 million Series C led by Ribbit Capital, Infinite Capital, Bedrock Capital, and Sequoia Capital. But maybe extra placing than the tempo of the raises is who’s main them: Mach, which builds autonomous protection techniques, is run by a 22-year-old.

Founder and CEO Ethan Thornton launched Mach in 2023 at 19, after growing an curiosity in protection as a youngster. Since then, he’s constructed the corporate round a willingness to maneuver rapidly, take dangers, and adapt as its know-how and the broader protection business evolve.

“You’re by no means going to know all the things, particularly once you’re beginning younger, and also you shouldn’t count on to,” Thornton instructed Fortune. “If you wait till you will have all of the solutions, you’ll most likely by no means begin.”

By 2024, Mach landed a deal with the Army Applications Laboratory to develop a vertical-takeoff precision cruise missile—and the corporate’s momentum has solely accelerated since.

Today, the Gen Zer is operating an organization with six weapons packages, a 115,000-square-foot headquarters and manufacturing facility in Huntington Beach, California, and ambitions to construct all the things from airframes and jet engines to stable rocket motors, energetic techniques, and autonomous applied sciences.

The firm’s fast development comes amid a broader growth in protection tech. Allie reported earlier this year that a record $19.8 billion was deployed into the sector within the first quarter of 2026 alone. Thornton, nonetheless, is betting that Mach can do greater than merely trip that wave. After a number of years spent growing and testing its know-how, the corporate is now shifting its focus towards manufacturing. 

“For an organization like Mach, non-public capital lets us take threat earlier. We can construct earlier than there’s a large program behind one thing, take a look at it, be taught from it and alter it rapidly,” Thornton instructed Fortune. “And as a result of we take into consideration manufacturing from the start, we’re not designing one thing and determining how you can produce it years later. We’re constructing the product and the manufacturing functionality on the similar time.”

Turning teenage army pursuits right into a protection tech unicorn

Thornton’s curiosity in protection began properly earlier than Mach—and earlier than he was sufficiently old to drive a automobile.

Growing up in a army household in Texas, Thornton more and more grew to become involved about China’s rise and what he described as an “impending nice energy dispute.” By 16, he was already prototyping protection purposes on his mother and father’ property, experimenting with hydrogen-powered weapons utilizing supplies sourced from Home Depot and Amazon.

He took that curiosity to MIT, the place he studied aerospace (and even made the football roster) whereas working with the varsity’s federally funded protection analysis heart, Lincoln Laboratory. Before ending his first 12 months, Thornton acquired a Thiel Fellowship and left MIT to focus full-time on his firm.

Mach rapidly caught the eye of Silicon Valley. In June 2023, Sequoia Capital led a $5.7 million funding spherical in Mach—the VC’s first financial backing in a {hardware} protection know-how firm. Stephanie Zhan, a Sequoia companion who led the financial backing, summed up Thornton’s ambitions on the time:

“Ethan is a power of nature: from his technical depth and real obsession with the issue to his bias for motion and maturity past his years,” Zhan stated. “Defense know-how is central to our security and safety, and Mach is a step-function development to the state of the business.”

For Thornton, nonetheless, the teachings from constructing Mach so younger have been much less about having all of the solutions than about figuring out who to encompass himself with.

“Find people who find themselves higher than you on the belongings you don’t know, who will problem you and who imagine in what you’re attempting to construct,” he stated.

Thornton’s core recommendation for different younger individuals with formidable concepts is equally easy: Don’t be afraid to fail.

“You should be keen to be taught as you go, make errors and preserve transferring. Have conviction in the issue you’re attempting to resolve, after which encompass your self with individuals who may also help you clear up it.”

Preston Fore
X: @forepreston
Email: [email protected]

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VENTURE CAPITAL

– The Biological Computing Company, a Baltimore, Md. and San Francisco-based developer of neuron-derived software program designed to make AI fashions sooner, cheaper, and extra environment friendly, raised $25 million in a seed extension. Builders VC led the spherical and was joined by Wonder Ventures, Jeff Dean, and Tusk Ventures.

– Prime Minute, a Palo Alto, Calif.-based developer of disaster-response know-how, beginning with wildfire response, raised $15 million in pre-seed funding. Eclipse led the spherical and was joined by 8VC. 

– Autoheal, a San Francisco-based developer of AI brokers that automate software-development and IT-operations duties, raised $7.9 million in seed funding. Innovation Endeavors led the spherical and was joined by Emergent Ventures, U&I Ventures, Darkmode Ventures, Batch Ventures, and Param Hansa Values.

– Feather, an East Palo Alto, Calif.-based developer of an open {hardware} and software program platform for humanoid robots, raised $7.6 million in pre-seed funding. Gradient Ventures led the spherical and was joined by Builder Capital, Geometry, SEED Innovations, and Virgo VC.

PRIVATE EQUITY

– Madison Dearborn Partners agreed to accumulate The Marygold Companies, a San Clemente, Calif.-based diversified holding firm with companies in monetary providers, meals manufacturing, printing, and wonder merchandise, for $2 per share.

– PrimeSource Brands, backed by Clearlake Capital Group, acquired JACLO Industries, a Cranford, N.J.-based producer of luxurious tub fixtures and plumbing merchandise. Financial phrases weren’t disclosed.

EXITS

– Rexel agreed to accumulate GCG, a Chicago, Ill.-based distributor of specialty wire, cable, connectivity, and energy merchandise, from Audax Private Equity in a deal that values the corporate at roughly $1.4 billion.

IPOs

– TFP Group, a London, U.Okay.-based specialty insurance coverage managing normal agent, filed to go public on the New York Stock Exchange. The firm posted $723 million in gross sales for the 12 months ended June 30. Alfa Entities, Blackstone, Capital Z, Cooper FG Holdco, SPFM Holdings, and Ocorian Trustees Limited again the corporate.

FUNDS + FUNDS OF FUNDS

– Zero Infinity Partners, a New York City-based enterprise capital agency, raised $156 million for its second fund targeted on early-stage transport systems tech firms.