Hadrian — Propulsion & Manufacturing · fobi

Hadrian

Hadrian automates precision manufacturing for aerospace and defense components using software-controlled machine shops and AI-driven workflows. Raised $180M Series C in 2024 at $1.5B valuation; customers include SpaceX, Anduril, and primes; building highly automated factories for defense supply chain.

Tackling the defense industrial base's manufacturing bottleneck with automation to produce rocket, aircraft, and weapons parts faster and at lower cost.

hadrian.co Propulsion & Manufacturing

United Statesprivate

At a glance

Total raised

$476.5M

last round series c

Headcount

201-500

approximate · public range

Headquarters

Hawthorne

United States

Founded

2020

6 years active

Status

Private

Propulsion & Manufacturing

Latest valuation

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Date	Stage	Amount	Valuation	Lead investors
Jun 27, 2025	Series C	$260M	$1.6B	Founders Fund, Lux Capital
Feb 21, 2024	Series B	$117M	$500M

AI bull / bear

Bull case

Hadrian sits at the intersection of two massive tailwinds: the defense industrial base's urgent need to scale production and the commercial space boom. The $180M Series C at a $1.5B valuation signals heavy institutional conviction, and customer logos like SpaceX, Anduril, and prime contractors validate that Hadrian already delivers on mission-critical parts, not just prototypes. Its software-controlled, AI-driven approach directly attacks the root cause of defense manufacturing bottlenecks — labor shortages and rigid production lines — by abstracting machine-shop complexity into repeatable, scalable workflows. If Hadrian proves out its highly automated factory model, it becomes a must-have infrastructure layer for any defense or space company that needs hardware at speed. The U.S. government's push to reshore defense supply chains provides a decade-plus of demand visibility, and Hadrian's first-mover advantage in automated precision machining creates a moat that traditional machine shops cannot easily replicate. The company is building what amounts to a programmable factory for the hardest parts in the world. That thesis, if executed, is worth multiples of the current valuation.

Bear case

Hadrian competes in a razor-thin-margin industry where precision manufacturing for aerospace and defense is subject to relentless cost pressure and rigorous qualification cycles. Its $1.5B valuation implies aggressive growth assumptions that rely on successfully scaling factory capacity faster than primes like Lockheed Martin and RTX can replicate or build similar automation in-house. The customer concentration risk is severe: winning contracts with SpaceX, Anduril, and primes today does not guarantee exclusivity, and those same customers have every incentive to vertically integrate or pressure suppliers on price. Defense procurement cycles are long, lumpy, and subject to unpredictable budget shifts, making revenue forecasting unreliable. Hadrian must also navigate ITAR compliance, security clearance requirements, and supply chain fragility for its own raw materials and CNC equipment. If the automation thesis underperforms on cycle time or defect rates versus traditional machinists, or if a major customer brings production in-house, the valuation multiple compresses hard.

Generated by deepseek-v4-flash · June 2, 2026Refreshes quarterly · see disclosures

Hadrian

At a glance

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Funding history

How they make money

Founder backgrounds

Chris Power

AI bull / bear

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Leadership

Products

Automated Precision Machining Factories

Factory-as-a-Service (Defense Production Cell)

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