Aerospace startup Hermeus Corp. has announced a significant funding round, raising $350 million in equity and debt. Khosla Ventures led the $200 million Series C portion of the deal, which valued Hermeus at $1 billion. Institutional lenders contributed an additional $150 million.
Hermeus is developing hypersonic drones for the U.S. military, designed to fly five times the speed of sound. The company's approach utilizes a turbine-based combined cycle engine, integrating turbojet technology for takeoff and transitioning to ramjet mode at high speeds.
The engine design is a modified version of a Pratt & Whitney F100 system, enhanced with a precooler to manage incoming air temperature and boost speed. The company recently completed successful test flights of larger, heavier demonstrator aircraft and aims to achieve supersonic speeds next.
CEO AJ Piplica stated the new funding will enable scaled manufacturing and accelerate the path to ramjet-powered flight.