Castelion, a hypersonic-weapons startup founded in 2022 by former SpaceX executives, has raised a $1 billion Series C at a $13 billion valuation. The round was co-led by Andreessen Horowitz, Carlyle and JPMorgan Chase and comprises $800 million in equity and $250 million in committed financing through a revolving credit facility, which totals $1.05 billion. The company will use the capital to expand production of its Blackbeard missile in New Mexico and develop other hypersonic weapons. Castelion has secured more than $500 million in U.S. military contracts, as the Pentagon seeks to increase procurement of weapons capable of traveling above Mach 5 amid concerns that the U.S. stockpile has lagged China's. The company is also advancing longer-range strike and defensive systems designed for faster, lower-cost production, with Blackbeard fielding targeted for 2027.