Autonomous boat startup Saronic raises $1.75 billion in race to modernize U.S. military

Government

Autonomous ship startup Saronic said Tuesday that it's raised $1.75 billion as it ramps up production to meet mounting U.S. military demand for newer and cheaper defense capabilities. The round, led by Kleiner Perkins, more than doubles Saronic's valuation to $9.25 billion from the $4 billion it hit after a $600 million raise early last year. Saronic plans to use the funding to scale its supply chain and shipyards, and build more than 20 ships a year by 2027, including its new shipyard, dubbed