Hypersonica raises €100 million Series B to build Europe's hypersonic missile

Hypersonica, a defence start-up based near Munich with a subsidiary in London, announced on Monday, 2 November 2026 that it has raised €100 million in a Series B funding round to develop hypersonic deep-strike missiles for Europe and its allies. The round was co-led by the US investors Lightspeed and General Catalyst, with existing backers Plural and 201 Ventures also taking part. The company says it aims to have a long-range hypersonic system ready by 2029, and it plans its next round of tests in 2027, focused on guidance and manoeuvring. The company did not disclose its valuation; the Financial Times reported, citing people familiar with the deal, that it values Hypersonica at around €700 million.

Hypersonic weapons fly at more than five times the speed of sound, which is what "Mach 5" means, and can change course in flight. That combination makes them very hard to track and intercept. The company describes its goal as a sovereign hypersonic deep-strike capability for Europe and its allies, built by a small, fast-moving company rather than a traditional defence giant.

The round also shows how far investor attitudes to defence have shifted. Lightspeed and General Catalyst are best known for backing software and consumer companies. Their decision to co-lead a missile maker's round is a sign that large venture funds are now willing to back weapons makers in Europe.

Hypersonica is also tied to policy. Reports say the company is part of the work under the Trinity House Agreement, a defence agreement between the United Kingdom and Germany that includes developing long-range conventional strike weapons. One report cautions, however, that government budgets for such programmes are not the same as confirmed orders or revenue for the company.

Much remains undisclosed. The company has not published the propulsion, guidance, warhead or airframe design of the system it intends to build, so outside experts cannot yet judge how close it is to a usable weapon. The February flight is the main public proof point so far.

Peepals calculation: The Series B is about 4.3 times the size of the Series A (€100 million divided by €23.2 million is about 4.31), and the two rounds together come to about €123.2 million raised in 2026 (€23.2 million plus €100 million). Our calculation from the reported figures.

Short-term: The new money is expected to pay for engineering work and the next phase of testing, which the company has scheduled for 2027.

Long-term: If the 2029 target holds, Europe would have a hypersonic strike option developed by a start-up rather than a large prime contractor, which could change how European governments buy advanced weapons.

Who is affected: European defence ministries, especially in the UK and Germany, established missile makers that now face a well-funded new rival, and venture investors weighing defence deals.

What to watch next: The company's next flight tests, planned for 2027, focused on guidance and manoeuvrability.

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