Cambridge Aerospace announced a $300 million Series C on August 10, 2026, at a $3.4 billion valuation, European Security & Defence reported, largely from the company's announcement. DFJ Growth led, with Lux, Accel, Lakestar, Never Lift, Ora Global and Elad Gil & Co taking part. The previous round, a $200 million Series B in April 2026 co-led by Elad Gil & Co and Spark Capital, valued the company at $1.3 billion. Total funding was not stated. The company says it will use the money to scale manufacturing, deliver existing contracts and keep developing products; its next product, Starhammer, is planned for 2027.

Skyhammer and the Ministry of Defence

On April 13, 2026, The Defense Post reported a UK Ministry of Defence contract with Cambridge Aerospace, described only as multi-million-pound, covering launchers, interceptors, integration, technical support and training for UK Armed Forces and Gulf partners. It names no Gulf state. Deliveries are to begin in May and run for about six months, the article says. Defence Secretary John Healey said the UK is speeding up contracts with British businesses to support Gulf partners and equip UK forces with anti-drone technology. Contract value and quantities were not given.

European Security & Defence describes Skyhammer as a low-cost interceptor missile, a government characterisation. The Defense Post lists a range of 30 km, a top speed of 700 km/h, a jet engine, retractable wings and an onboard mini-radar seeker. The price per round has not been disclosed.

The company

Cambridge Aerospace says it was formed less than two years ago, has more than 250 employees, two-thirds of them in technical or engineering roles, and has a presence in the UK, Germany, Poland, Norway, Ukraine and Australia, all company claims in the ESD report. CEO Prof. Steven Barrett is an aerospace engineer; chief commercial officer Chris Sylvan spent more than a decade in the Royal Marines. ESD adds that the UK announced its Low-Cost Effectors & Autonomous Platforms (LEAP) programme in July 2026 but does not state Cambridge Aerospace's role or contract value in it.

Sources and notes

Sources: European Security & Defence on the Series C and The Defense Post on the UK order. The Defense Post does not attribute the Skyhammer specifications, and Lens has seen no independent verification of them. Contract value and quantities, the price per round, the Gulf customers and independent test data have not been disclosed in the sources reviewed. The Defense Post reports no Skyhammer use in Ukraine, and ESD lists Ukraine only as a place where the company has a presence. Related: European defense startups raised $7.4 billion through Sept. 20, 2026.

Image: Sting launch 114th tobr.jpg by the General Staff of the Armed Forces of Ukraine, CC BY 4.0, via Wikimedia Commons; cropped. It shows a Ukrainian soldier launching a Sting interceptor drone, a different system from Skyhammer. Illustrative photo; it does not show the events described.