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Cambridge Aerospace is seeking to raise approximately $200 million at a valuation above $1 billion, a significant increase from its last valuation of $400 million in 2025. Founded in 2024 and chaired by former UK defense minister Grant Shapps, the company specializes in interceptor systems, with its Skyhammer system capable of reaching targets up to 30 kilometers away at 700 kilometers per hour.

The push for funding aligns with a growing focus on air defense amid the ongoing conflict in the Middle East, which highlights the cost disparities between expensive missile systems and more affordable drones. Investment in European defense startups surged 55% to a record $8.7 billion in 2025.