Benchmark leads $25 million seed round for missile startup Furientis

Furientis has raised $25 million in a seed financing led by Benchmark to pursue mass production of missile interceptors. The investment is Benchmark’s first in a startup focused exclusively on defense.

A person familiar with Furientis put its valuation at $125 million. The company, founded a year ago, has secured a funded Pentagon contract for mid-range interceptors. Its latest financing follows a $5 million pre-seed round announced in May.

Benchmark general partner Chetan Puttagunta said Furientis had built prototypes using its pre-seed funding and completed successful launches before the firm invested.

Rather than seeking the performance of top-tier interceptors, Furientis is developing missiles that can be assembled rapidly using readily available parts. It aims to produce 1,000 systems annually at each factory. The startup currently operates from a Los Angeles facility and conducts prototype launch trials at White Sands, New Mexico.

Co-founders Brody Franzen and Aris Simsarian have aerospace engineering backgrounds. Franzen was deputy chief engineer at Virgin Galactic before moving to hypersonic missile startup Castelion. Simsarian previously oversaw rocket engine testing at Virgin Orbit.

Franzen said they founded Furientis in response to a severe U.S. military shortage of high-end missiles, which can cost around $3 million apiece, used to counter inexpensive threats.