Saronic Secures $600 Million in Series C Funding for Maritime Revolution
Deal News | Feb 20, 2025 | Goodwin
Saronic Technologies, a company focused on maritime innovation, has secured $600 million in its Series C funding round, which seeks to redefine maritime superiority for the United States and its allies. The investment will support the development of Port Alpha, a next-generation shipyard poised to produce a new generation of unmanned ships. This significant round was led by Elad Gil and included major investors such as a16z, Caffeinated Capital, and 8VC, along with General Catalyst, a global venture capital firm known for investing in transformative companies across various sectors. Goodwin, a prestigious law firm, played a crucial advisory role in the funding, with a team led by David Pendergast and Liza Craig.
Sectors
- Venture Capital
- Maritime Technology
- Defense
Geography
- United States – The focus on redefining maritime superiority for the United States and the location of Saronic Technologies suggests relevance to the US geography.
Industry
- Venture Capital – The article involves General Catalyst, a global venture capital firm, participating in funding Saronic Technologies.
- Maritime Technology – Saronic Technologies is focused on maritime superiority and is developing autonomous shipyard capabilities, highlighting its role in the maritime technology sector.
- Defense – The funding aims to expand Saronic's autonomous vessel fleet for defense purposes, demonstrating relevance to the defense industry.
Financials
- $600 million – The total amount raised in Saronic's Series C funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Saronic Technologies | Target Company | Company | A company dedicated to redefining maritime superiority by building autonomous vessels. |
| General Catalyst | Investor | Company | A global venture capital firm investing in transformative companies. |
| Elad Gil | Lead Investor | Person | Led the Series C funding round. |
| Andreessen Horowitz (a16z) | Existing Investor | Company | A venture capital firm part of the investors in the funding round. |
| Caffeinated Capital | Existing Investor | Company | A venture capital firm involved in Saronic's funding. |
| 8VC | Existing Investor | Company | A venture capital firm partaking in the investment. |
| Goodwin | Legal Advisor | Company | Provided legal counsel for the funding round. |
| David Pendergast | Lead Advisor | Person | Led the Goodwin team advising General Catalyst. |
| Liza Craig | Lead Advisor | Person | A key member of the Goodwin advisory team. |