Benchmark Makes First Pure Defense Bet with Furientis Investment

Benchmark has led a $25 million seed round for Furientis, marking the venture firm's first investment in a pure defense startup, according to TechCrunch. The one-year-old company is valued at $125 million and previously raised a $5 million pre-seed round in May.

Founded by former aerospace engineers Brody Franzen (previously of Virgin Galactic and Castelion) and Aris Simsarian (formerly of Virgin Orbit), Furientis aims to mass-produce mid-range interceptor missiles. The startup has already secured a funded Pentagon contract and is operating out of a Los Angeles facility, conducting prototype trials at White Sands, New Mexico.

According to TechCrunch, the company's strategy focuses on speed and affordability over high-end performance. Co-founder Brody Franzen told TechCrunch that the U.S. military is facing a shortage of "exquisite" missiles, which can cost roughly $3 million per unit. Franzen noted that while the U.S. Navy receives only 300 to 500 interceptors annually, China claims to produce 3,000 anti-ship cruise missiles per month. Furientis intends to utilize readily available components to lower costs and eventually manufacture 1,000 systems per year in each factory.

Benchmark general partner Chetan Puttagunta told TechCrunch that the startup's efficiency was evident prior to the seed round, as the team successfully conducted a dozen launches using only the $5 million pre-seed funding. While other defense startups like Anduril, Shield AI, and Castelion are also pursuing mass-produced interceptors, Puttagunta stated he believes there is room for multiple companies in the sector.