• Financing will accelerate production of long-range precision munitions and expand allied sovereign manufacturing capacity.

Zurich and West Palm Beach, 17 November 2026 – Lakestar, a European technology investment firm and Rochefort Asset Management (Rochefort), a U.S. national security-focused investment firm licensed under the U.S. Department of War’s Office of Strategic Capital (OSC) and the Small Business Administration (SBA), today jointly announced that they have co-led an $85 million Series A financing round for defense technology company Tiberius Aerospace, Inc. (Tiberius). The investment values Tiberius at more than $1 billion on a post-money basis making it the latest defense technology unicorn.

The round attracted new investors including Dream Ventures and AeroX Ventures, alongside other institutional investors, with participation from existing investors Blacklake, Moonshots Capital and UA1. In addition to its equity investment, Rochefort provided Tiberius with a senior secured debt facility.

Led by former Silicon Valley executives and a member of the special operations community, Tiberius is bringing the speed and innovation of the technology sector to defense. The financing follows a $500 million technology collaboration contract announced on October 1 to manufacture, license and distribute Sceptre with UK technology partners. Developed from concept to contract in just 24 months, Sceptre is the world’s only 155mm liquid-fueled ramjet-powered artillery round, designed to deliver precision strikes at ranges several times greater than conventional artillery using existing NATO-standard guns.

The combined financing will support expansion of Tiberius’s manufacturing partner network, product certification, continued innovation and further development of its AI-powered GRAIL platform.

“Tiberius represents a rare combination: a genuinely novel military capability paired with a business
model engineered for scale,” said Chris Magazzeni, Partner at Lakestar commenting on the announcement. “Tiberius enables precise, cost-effective power projection while keeping our troops farther from the battlefield. The team has quietly and rapidly solved a problem that has eluded the defense industry for more than half a century.”

“At Rochefort, we are co-leading Tiberius Aerospace’s equity raise and are excited to invest in a company building something the battlefield has never had before,” said Kyle Bass, Co-Founder of Rochefort Asset Management. “Using AI, the founders developed a first-of-its-kind ramjet-powered artillery round that can be fired from a traditional 155mm gun and reach targets out to 140 kilometers. Tiberius is a clear example of how American innovation can produce a battlefieldwinning munition.”

“This financing positions Tiberius Aerospace to move from breakthrough technology to fielded capability across allied nations,” said Chad Steelberg, Founder and Chief Executive Officer of Tiberius Aerospace. “The partnership with Rochefort provides the capital and the conviction to bring longrange precision fires to the forces that need them most, built by the nations that deploy them.”