Manufacturing firm Hadrian said on Thursday it raised US$1.37 billion in a funding round that valued it at US$7.87 billion.
The funding round was co-led by WCM Investment Management, Washington Harbour Partners, Valor Equity Partners, 137 Ventures and Baillie Gifford.
Hadrian operates highly automated factories that use AI, robotics and process engineering to manufacture precision components and systems.
The California-based company said it will use the proceeds to build new factories, expand research and development, and increase production capacity as it scales manufacturing of defense, aerospace and industrial systems in the United States.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Shailesh Kuber)
