Torrance Advanced Manufacturing Firm Hadrian Raises $1.37 Billion in Series D
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Hadrian, a Torrance-based advanced manufacturing company building highly automated factories to support U.S. manufacturing, raised $1.37 billion in Series D equity financing to accelerate the buildout of the domestic manufacturing capacity needed to deliver the nation’s most critical defense, aerospace and industrial systems.
The raise values Hadrian at $7.87 billion. The financing is co-led by WCM Investment Management, Washington Harbour Partners, Valor Equity Partners, 137 Ventures and Baillie Gifford.
JPMorganChase’s Strategic Investment Group joined as anchor co-lead, investing through the firm’s Security and Resiliency Initiative, a program dedicated to strengthening the industries critical to national and economic security.
“Production is now the frontline of deterrence,” said Chris Power, founder and chief executive of Hadrian, in a statement. “America’s ability to lead will depend on whether we can build, train and scale faster. This financing allows Hadrian to accelerate building the Factories of the Future, expand into new mission-critical production capabilities and invest in the technicians and engineers who will rebuild America’s industrial base.”
The round also included major participation by 1789 Capital, as well as participation from Morgan Stanley Wealth Management, funds managed by Apollo, accounts advised by T. Rowe Price Associates, Inc., CapitalG, Andreessen Horowitz, Founders Fund, Lux Capital, Altimeter, Construct Capital and existing investors.
Since its Series C financing just 12 months ago, Hadrian has rapidly expanded its manufacturing footprint and capabilities. The company opened new factories in Mesa, AZ, and Muscle Shoals, AL, bringing its footprint to just under 3 million square feet across four sites and adding capacity in regions central to America’s industrial future. Over the next year, Hadrian will launch additional factories and plans to expand into new production lines, including munitions and autonomous systems to continue building the manufacturing platform required to support the country’s most urgent programs.
Hadrian’s growth is also creating a new workforce model for American manufacturing. The company is hiring and training operators, engineers and technologists to work inside highly automated factories where software, robotics and human ingenuity come together on the factory floor.
Information for this story was provided by Hadrian.
