Secretive defense startup Covenant emerges from stealth with $250 million at over $1 billion valuation

Secretive defense startup Covenant emerges from stealth with $250 million at over $1 billion valuation — Live Feedhttps://www.live-feeds.com/feed/secretive-defense-startup-covenant-emerges-from-stealth-with-250-million-at-over-1-billion-valuationContinuously updated, source-cited coverage. Defense Startup Covenant Exits Stealth with $1 Billion Valuationhttps://www.live-feeds.com/feed/secretive-defense-startup-covenant-emerges-from-stealth-with-250-million-at-over-1-billion-valuationhttps://www.live-feeds.com/feed/secretive-defense-startup-covenant-emerges-from-stealth-with-250-million-at-over-1-billion-valuation#u64731Fri, 11 Sep 2026 05:22:06 +0000Covenant, a defense startup backed by Peter Thiel and Andreessen Horowitz, has exited stealth mode to produce low-cost cruise missiles. The company raised $250 million at a valuation exceeding $1 billion. Covenant has opened a missile factory in the United States and plans to expand mass production of deep strike missiles into Europe. The firm aims to address current U.S. missile shortages by deploying factories capable of producing 1,000 missiles each next year, with a long-term scaling target of 5,000 missiles annually.Why it mattersThe U.S. is currently rebuilding its arsenal amid a shortag