Latest news with #Mach
TechCrunch
6 days ago
- Business
- TechCrunch
Two-year-old defense tech Mach Industries confirms $100M raise led by Khosla, Bedrock
Rising-star defense tech Mach Industries has announced a new $100 million round of funding at a $470 million valuation. TechCrunch first reported that this deal was in the works last month. New investor Keith Rabois from Khosla Ventures joins existing investor Geoff Lewis of Bedrock Capital to lead the round. Existing investor Sequoia also participated. The fresh funding brings the startup's total raised to about $185 million to date. The round represents a modest step up from the company's previous valuation. When Mach announced its Series A funding in October 2023, investors assigned the company a $335 million post-money valuation. This means the latest round's $470 million post-money to pre-money valuation is essentially flat, representing just $35 million in additional value over the past year and a half. Mach Industries' rise in the defense tech world has been nothing short of meteoric, even if its latest funding round suggests investor enthusiasm is cautious. It was founded in 2023 by then 19-year-old CEO Ethan Thornton, who dropped out of MIT to work full time on the company. In June 2023, he landed Sequoia's Stephanie Zhan and Shaun Maguire as investors who led Mach's $5.7 million seed round. Geoff Lewis, founder of Bedrock Capital, led Mach's $79 million Series A a few months later. Within the last year, Mach has grown from about 20 employees to 140, Thornton tells TechCrunch. The startup has designed three weapons systems: a super light jet-powered vertical takeoff and landing unmanned aerial vehicle called Viper that requires no runway; a high-altitude glider plane that can strike targets from miles away at the edge of the atmosphere, named Glide; and Stratos an in-air satellite with sensors and communication capabilities that can operate at extreme altitudes. The company has also secured significant contracts and infrastructure investments. Earlier this year, Mach was selected by the Army Applications Laboratory to develop a vertical takeoff precision cruise missile and announced plans for its first factory — a 115,000-square foot facility in Huntington Beach, California. Techcrunch event Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW Mach's goal is to create weapons with 'the ability to carry out strikes at very long ranges,' Thornton said. But the fast-growth of his young company has been an whirlwind experience. He remembers moving into the company's first office in Cambridge, Mass., just two years ago, when the company was so pinched for cash that he and founding team member Ashton Bennett hand-built the office furniture, college-dorm style. 'Like, we went to Home Depot, bought a bunch of plywood, bought a bunch of 2x4s, and built all the furniture ourselves,' he told TechCrunch via video conference from a room that now features commercial office furniture. 'I'd say we're still equally scrappy, but now it's very, very exciting to have a full factory and a team [that's] equal parts industry veterans who've done this before' and those new to the defense industry. The founder also says he's aware of the gravity of building weapons during a time of unprecedented advances in AI and global political unrest. He points to Ukraine's drone 'Spider Web' attack on Russian bombers as an example of the new kind of pinpointed, AI-powered warfare that has already arrived. Thornton believes that his company, along with other young defense tech contenders, are building weapons for this new reality more affordably than traditional defense contractor offerings. He emphasizes that his work is done in conjunction with layers of national defense decision makers. 'The work we do is done in direct contact with the State Department, with the Department of Defense, with Congressional members,' he says. Moving forward, Mach will use the new funding to build out manufacturing capabilities and develop several new products in R&D that Thornton won't publicly discuss yet, including some kind of new propulsion engine.
Campaign ME
12-06-2025
- Business
- Campaign ME
What are the biggest ‘campaign worries' for UAE B2B marketers?
In today's high-stakes, highly complex B2B landscape, 91 per cent of B2B marketers surveyed in the UAE say that grabbing audience attention is their biggest campaign worry, while 66 per cent say that investing in video is imperative to not lose out to competitors, according to new research from LinkedIn. 66 per cent of B2B marketers say that investing in video is imperative to not lose out to competitors. The LinkedIn '2025 B2B Marketer Sentiment Research' that surveyed more than 3,000 B2B marketers across 13 countries – including the UAE, UK, USA, France, Germany, Netherlands Spain, Italy, Sweden, Brazil, Singapore, India, and Australia – reveals that 76 per cent of B2B marketers in the UAE, and 80 per cent globally feel they need to invest in creative strategies to stand out because it's more competitive these days. 76 per cent of B2B marketers in the UAE feel they need in invest in creative strategies. However, creativity still needs to make its case in the boardroom. Senior-level marketing leaders are clear that creative ideas and video will influence purchase decisions, but they're being forced to rely on more traditional and stale tactics over experimental ones, with 83 per cent of UAE CMOs and VPs saying their leadership is risk averse. 83 per cent of UAE CMOs and VPs saying their leadership is risk averse. Effective strategies to drive direct sales: B2B video and influencer marketing As B2B marketers continue to do more with less and face increasing pressure to demonstrate impact on the bottom line. Close to 97 per cent of B2B marketers in the UAE say video and 98 per cent say influencer marketing are among the most effective strategies to gain direct sales in the current landscape. Short-form video in B2B helps marketers build trust with audiences (72 per cent) and reach decision makers (72 per cent), and short-form influencer video content is emerging as the top investment priority for marketers. 66 per cent of B2B marketers say that their marketing strategy is incomplete today without influencer and creator partnerships. The research also uncovers that building authentic and credible brands is a top priority for B2B marketers, and influencer and creator partnerships can help achieve this. Approximately 66 per cent of B2B marketers say that their marketing strategy is incomplete today without influencer and creator partnerships, and 91 per cent are confident that influencer marketing campaigns will directly lead to sales by the end of the year. B2B buying is becoming more complex, and according to Forrester's 2025 B2B Marketing and Sales Predictions, younger B2B buyers are relying on 10 or more external sources – including social media and peer networks – when making purchase decisions. Jessica Machalani, Head of LinkedIn Marketing Solutions MENA, said, 'Today's B2B buyers, 71% of whom are Gen Z or millennials, are engaging with brands in entirely new ways. Video now plays a central role in how they discover, evaluate and connect.' Machalani added, 'To earn a spot on their shortlist, brands need to show up where it matters – in the content they watch, the creators they trust, and the stories that resonate. Earning their engagement means being more human and more relatable – connecting through meaningful touchpoints like compelling video, thought leadership, and credible, expert-driven influencer marketing.' To address the concerns stated by marketers, and to help them cut through the noise, LinkedIn recently expanded video advertising capabilities, introducing first impression ads, reserved ads, and expanded CTV ads capabilities. It has also teamed up with Adobe to make video ad creation easier.
Yahoo
05-06-2025
- Business
- Yahoo
Developers propose affordable housing complex on Appleway Drive in Kalispell
Jun. 5—Kalispell may see a new workforce housing complex located alongside the Parkline Trail and within walking distance of downtown. Mach LLC, an affordable housing developer, is proposing a 24-unit apartment complex off Appleway Drive just south of U.S. 2. Known as the Outpost at Kalispell, the development will boast a mix of one- and two-bedroom apartments geared toward households making from 50% to 60% of the area median income, which is roughly $102,000, according to government-sponsored enterprise Fannie Mae. The apartments — one-bedroom units will encompass 714 square feet while two-bedroom units will come in at 954 square feet — will be rented at roughly 30% below the average market rate. "Really hitting the workforce income level," said Matt Belles of Mach. Three of the units will be set aside for veterans, victims of domestic violence or young people aging out of foster care, according to Mach. The apartments will be fitted with electric kitchen appliances, in-unit washer and dryers, and a balcony or patio. But before the development can come to fruition, Mach is asking for $8.5 million from the 2026 Montana Housing Tax Credit program, overseen by the Montana Board of Housing to support the construction or preservation of affordable homes. The awarding of the tax credits will be announced in October, according to Mach's Grant Schnell. The entire project is estimated at around $8.7 million. While the program is competitive, Schnell is optimistic. Mach is the only applicant in Flathead County. Other developments are proposed in Anaconda, Missoula and Billings. Mach and co-developer TE Miller are both behind previous developments in Kalispell but have never built affordable housing in the city. "Basically, our focus is on affordable housing in the state of Montana as well as the Mountain West," Schnell said. The Community Action Partnership of Northwest Montana is partnering with the developers on the project. The nonprofit connects individuals with community programs like heating and rental assistance. Partnering with a nonprofit ensures that rents remain affordable, and Director of Project Development Cassidy Kipp said that Community Action Partnership will engage residents with services it provides that promote self-sustainability. "We will do everything in our power to support responsible growth of affordable housing," she said. Kalispell is a tough place to develop in because of high construction and land costs, but workforce housing is a necessity in the Flathead Valley, Schnell said. He plans to go through the city approval process after the funds are awarded. "We want to be good stewards of the community and know we're going to need to be good neighbors as well," Belles said. Reporter Jack Underhill may be reached at 758-4407 and junderhill@
Business Standard
27-05-2025
- Business
- Business Standard
Mach Conferences And Events Limited To Acquire Majority Stake In Travexel Events And Travel Private Limited, Expanding Into Medical Conferences
PRNewswire New Delhi [India], May 27: Mach Conferences & Events Limited (BSE: (BSE: 544248), a leading provider of comprehensive MICE (Meetings, Incentives, Conferences, Exhibitions) and Events solutions, announced it has entered into a definitive agreement to acquire majority shareholding in Travexel Events and Travel Private Limited (Travexel). Travexel is a prominent professional conference organizer with a specialized focus on medical conferences and comprehensive travel solutions for delegates. With this acquisition*, Mach will significantly enhance its end-to-end service capabilities, adding a crucial medical conference segment that will 'fast-track' its growth in the specialized events and travel sector. This acquisition* is a strategic decision that aligns with Mach's continued diversification plans of developing a comprehensive event and travel ecosystem. One key advantage of the medical conference segment is the long-term planning and predictability it offers, as such events are often confirmed years in advance. This contrasts with Mach's current business model, where event confirmations typically occur 3-4 months before execution. Post-investment by Mach, Travexel will continue to run and operate as an independent entity. Travexel currently has an order book of approximately Rs20 crores in this financial year, highlighting its strong foothold in the medical conference segment. Maniish Mishra, Promoter of Travexel, said, "Joining the Mach family will not only support our organic growth within the medical conference and event management industry but also open up a wealth of opportunities related to comprehensive event and travel services." Mishra brings over 25 years of rich experience, having worked with TUI, Cox & Kings, and Thomas Cook. He has successfully executed more than 1,200 events, including most of the leading medical conferences, showcasing his expertise and leadership in the field. Speaking on the agreement, Amit Bhatia, MD of Mach, said, "Travexel brings highly specialized expertise in medical conferences and robust event management capabilities. This synergy presents significant cross-selling opportunities, allowing us to offer a more holistic suite of services to both our existing and future clients." *acquisition refers to the definitive agreement for Mach Conferences & Events Limited to invest in Travexel Events and Travel Private Limited and become the majority shareholder as detailed in this press release. About Mach Conferences and Events Limited: A pioneer in the MICE industry, MACH Conferences and Events has set a high standard in successfully arranging, coordinating and carrying out formal Meetings, Incentives, Conferences and Events across the globe. The Company has more than 20 years of experience with certifications from eminent bodies like IATA, ADTOI, IATO, and PATA. Having conducted over 300+ large and medium-sized events in the previous 3 years involving over 30 of the most elite brands, it takes pride in claiming to be among the supreme performers in the MICE industry. Not only in the Indian subcontinent, but our wings span across multiple countries. The company has a top-notch set of experts with varied expertise apart from being blessed with an in-depth and updated knowledge of the MICE Industry. As a result, they know this sector inside out, better than the rest. About Travexel Events and Travel Private Limited: Travexel Events and Travel Private Limited, incorporated in March 2023, is an upcoming professional conference organizer based in Delhi & NCR promoted by experienced and seasoned event organizers. The company distinguishes itself with a specialized focus on medical-related events and conferences. Travexel offers comprehensive event management services, including meticulous conference and meeting planning, exhibition management, and efficient travel logistics for delegates. For further information, please contact: Mach Conferences and Events Ltd. Ms. Yashashvi Srivastava (Company Secretary) Email: compliance@ Website: Adfactors PR Pvt. Ltd. Samruddhi Bane - Email ID: Adtiya Tikare - Email ID: Safe Harbour This release contains statements that contain "forward looking statements" including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Mach Conferences' future business developments and economic performance. While these forward-looking statements indicate our assessment and future expectations concerning the development of our business, several risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. Mach Conferences undertakes no obligation to publicly revise any forward-looking statements to reflect future / likely events or circumstances.
Business Upturn
27-05-2025
- Business
- Business Upturn
Mach Conferences And Events Limited To Acquire Majority Stake In Travexel Events And Travel Private Limited, Expanding Into Medical Conferences
By PR Newswire Published on May 27, 2025, 10:57 IST NEW DELHI , May 27, 2025 /PRNewswire/ — Mach Conferences & Events Limited (BSE: (BSE: 544248), a leading provider of comprehensive MICE (Meetings, Incentives, Conferences, Exhibitions) and Events solutions, announced it has entered into a definitive agreement to acquire majority shareholding in Travexel Events and Travel Private Limited (Travexel). Travexel is a prominent professional conference organizer with a specialized focus on medical conferences and comprehensive travel solutions for delegates. With this acquisition*, Mach will significantly enhance its end-to-end service capabilities, adding a crucial medical conference segment that will 'fast-track' its growth in the specialized events and travel sector. This acquisition* is a strategic decision that aligns with Mach's continued diversification plans of developing a comprehensive event and travel ecosystem. One key advantage of the medical conference segment is the long-term planning and predictability it offers, as such events are often confirmed years in advance. This contrasts with Mach's current business model, where event confirmations typically occur 3-4 months before execution. Post-investment by Mach, Travexel will continue to run and operate as an independent entity. Travexel currently has an order book of approximately ₹20 crores in this financial year, highlighting its strong foothold in the medical conference segment. Mr. Maniish Mishra, Promoter of Travexel, said, 'Joining the Mach family will not only support our organic growth within the medical conference and event management industry but also open up a wealth of opportunities related to comprehensive event and travel services.' Mr. Mishra brings over 25 years of rich experience, having worked with TUI, Cox & Kings, and Thomas Cook . He has successfully executed more than 1,200 events, including most of the leading medical conferences, showcasing his expertise and leadership in the field. Speaking on the agreement, Mr. Amit Bhatia , MD of Mach, said, 'Travexel brings highly specialized expertise in medical conferences and robust event management capabilities. This synergy presents significant cross-selling opportunities, allowing us to offer a more holistic suite of services to both our existing and future clients.' *acquisition refers to the definitive agreement for Mach Conferences & Events Limited to invest in Travexel Events and Travel Private Limited and become the majority shareholder as detailed in this press release. About Mach Conferences and Events Limited: A pioneer in the MICE industry, MACH Conferences and Events has set a high standard in successfully arranging, coordinating and carrying out formal Meetings, Incentives, Conferences and Events across the globe. The Company has more than 20 years of experience with certifications from eminent bodies like IATA, ADTOI, IATO, and PATA. Having conducted over 300+ large and medium-sized events in the previous 3 years involving over 30 of the most elite brands, it takes pride in claiming to be among the supreme performers in the MICE industry. Not only in the Indian subcontinent, but our wings span across multiple countries. The company has a top-notch set of experts with varied expertise apart from being blessed with an in-depth and updated knowledge of the MICE Industry. As a result, they know this sector inside out, better than the rest. About Travexel Events and Travel Private Limited: Travexel Events and Travel Private Limited, incorporated in March 2023 , is an upcoming professional conference organizer based in Delhi & NCR promoted by experienced and seasoned event organizers. The company distinguishes itself with a specialized focus on medical-related events and conferences. Travexel offers comprehensive event management services, including meticulous conference and meeting planning, exhibition management, and efficient travel logistics for delegates. For further information, please contact: Mach Conferences and Events Ltd. Ms. Yashashvi Srivastava (Company Secretary) Email: [email protected] Website: Adfactors PR Pvt. Ltd. Ms. Samruddhi Bane – Email ID: [email protected] Mr. Adtiya Tikare – Email ID: [email protected] Safe Harbour This release contains statements that contain 'forward looking statements' including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Mach Conferences' future business developments and economic performance. While these forward-looking statements indicate our assessment and future expectations concerning the development of our business, several risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. Mach Conferences undertakes no obligation to publicly revise any forward-looking statements to reflect future / likely events or circumstances. Photo: Logo: View original content to download multimedia: Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same. PR Newswire is a distributor of press releases headquartered in New York City.
