Aerospace and defense startup Ursa Major Technologies Inc. has closed a $100 million equity funding round – bringing its total valuation to $600 million. The round was led by VC firm Eclipse, with participation from Woodline Partners, Principia Growth, XN, and Alsop Louie Partners, alongside an additional $50 million in debt financing.

Founded in 2015 and headquartered in Colorado, Ursa Major is emerging as a key player in next-gen propulsion systems for missiles, space launch vehicles, and hypersonic platforms. The company reported $115 million in revenue during the first three quarters of 2025 and is on pace to double its workforce to 500 employees by year-end.

Scaling Rocket Motor Production

Ursa Major plans to use the fresh capital to scale production of its solid rocket motors – which have applications in systems like Tomahawk missiles – from 4 to 40 units per week over the next 12-18 months. The funding will also accelerate development of the company’s hypersonic engine technology and propulsion systems, critical components in the growing national defense and aerospace race.

“I’m here to do this on a size and scale that matters,” – Dan Jablonsky, CEO, Ursa Major

Jablonsky emphasized that the company aims to reach cash flow breakeven with this round and wants to remain IPO-ready, should market conditions align for a public debut.

Defense Tech in High Demand

The announcement underscores Silicon Valley’s surging interest in defense and aerospace innovation, as the Pentagon ramps up investments in next-gen tech amid global geopolitical tensions. Recent U.S. Department of Defense reforms aimed at streamlining procurement have made it easier for startups like Ursa Major to compete for major contracts.

“The signal it sends is fantastic,” – Seth Winterroth, Partner at Eclipse

Strategic Momentum & Leadership Boost

The company recently welcomed Ron Sugar, former Northrop Grumman CEO, and Gilman Louie, ex-head of the CIA’s venture firm In-Q-Tel, to its board – strengthening Ursa Major’s ties with both defense and capital markets.

Despite a temporary pause in hypersonic field testing during the U.S. government shutdown, CEO Jablonsky remains optimistic:

“That slowed down our milestones, but we’ll recover.”

What’s Next?

Ursa Major is uniquely positioned at the intersection of space innovation, defense modernization, and hypersonic advancement. With its latest funding and experienced leadership team, the company is gearing up to lead the next era of propulsion systems – and possibly go public in the near future.