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Covenant, a defense startup, opens U.S. missile factory and announces $250M funding
Key points
- Covenant opened a 105,000-square-foot missile factory in Dallas.
- The startup secured $250 million in funding over three rounds.
- Covenant's Anthem missile aims to offer a lower-cost alternative to existing systems.
- The company plans to produce 1,000 missiles in 2027, scaling to 5,000 annually.
New Factory and Funding Announcement
Covenant, a defense technology startup, has officially opened a new 105,000-square-foot factory in Dallas. This facility is intended to accelerate the manufacturing of lower-cost missiles for the U.S. military. Concurrently, the company announced it has raised $250 million in funding through three separate rounds, with backing from investors including Andreessen Horowitz and Peter Thiel's Founders Fund.
Addressing a Market Gap
Founded in 2024, Covenant's primary product is the Anthem long-range heavy-payload cruise missile. This missile is positioned as an alternative to existing systems, such as RTX's Tomahawk, and is stated to be a fraction of the cost of legacy systems. The company aims to fill a gap in the defense market for affordable, mass-produced strategic range weapons, particularly in light of current global conflicts.
Production Goals and Military Contracts
The Dallas factory is projected to begin serial production in Q1 2027, with a target of producing 1,000 Anthem missiles in its first year. Production is expected to scale up to 5,000 missiles annually. Covenant also announced two deals with the Department of Defense: one with the Army to accelerate a test and qualification program, and another with the Navy to adapt the Anthem for maritime use.
Company Background and Influence
Covenant currently operates production facilities in Germany and Northern Israel and employs over 200 people globally. The Washington-based startup represents a growing trend of defense tech companies gaining influence in policy and procurement discussions. Investors like Peter Thiel and Marc Andreessen have significant connections within political circles, further highlighting the intersection of venture capital and defense innovation.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
Defense tech startup Covenant has opened a 105,000-square-foot factory in Dallas for missile manufacturing and announced $250 million in funding across three rounds. This development introduces a new player in the defense ecosystem, aiming to provide lower-cost, long-range cruise missiles for the U.S. military.