Aidan Daly
Saronic Technologies, a provider of autonomous surface vehicles or ASV for maritime security, announced closing its Series C round and raising $600 million to advance its mission of redefining maritime superiority for the United States and its allies.
In a press release Tuesday, Dino Mavrookas, co-founder and CEO of Saronic, said, “A core principle of Saronic is that we design our vessels for autonomy from the keel up.” The latest funding activity ushers a new phase in advancing autonomy for naval and maritime missions.
The company plans to use the fresh funds to build Port Alpha, a next-generation shipyard that will produce new unmanned ships to help protect and defend the maritime domain. It will also enable Saronic to expand its ASV fleet into medium and large-class autonomous ships for defense applications.
“Port Alpha will reflect the apex of America’s shipbuilding past – generating new opportunities for the country’s shipbuilding workforce, forging public-private partnerships to accelerate growth, and bringing innovation and ingenuity to an essential industry,” Mavrookas added.
Elad Gil is the lead funder in the Series C round that raised the ASV maker’s valuation to $4 billion. The CEO of Gil Capital said, “The last years have seen a degradation in the capacity for the United States to build ships and to manufacture core needs of the country. I am excited to back Saronic and its focus on revitalizing shipbuilding in America, while also building products to defend those interests.”
Saronic has continued to invest in developing and expanding its manufacturing capabilities for small ASVs over the past two years. It raised $230 million from its Series A and B rounds in October 2023 and July 2024. The company will next invest in the U.S. shipbuilding infrastructure and work with federal and state legislators to form public-private partnerships.
