Defense startup Covenant opens Dallas cruise missile factory after securing $250 million

The short version

• Defense technology startup Covenant emerged from stealth and opened a 105,000-square-foot Dallas factory to build lower-cost cruise missiles.[CNBC]
• The firm disclosed $250 million in funding from investors including Andreessen Horowitz and Peter Thiel's Founders Fund.[CNBC]
• Covenant announced two Department of Defense deals to support testing with the Army and maritime adaptation with the Navy.[CNBC]
• The company plans to begin serial production in early 2027, targeting 1,000 missiles in year one and up to 5,000 annually.[CNBC]

Key facts

• Covenant opened a 105,000-square-foot factory in Dallas to manufacture lower-cost cruise missiles for the U.S. military.[CNBC]
• The company has raised $250 million in funding across three rounds from investors including Andreessen Horowitz and Founders Fund.[CNBC]
• Covenant was established in 2024 to manufacture the Anthem long-range heavy-payload cruise missile.[CNBC]
• Serial manufacturing is scheduled to begin in the first quarter of 2027, with an initial goal of 1,000 missiles scaling to 5,000 per year.[CNBC]
• The startup announced agreements with the Army for testing and qualification and with the Navy for maritime adaptation.[CNBC]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.

• Andreessen- and Thiel-backed defense startup opens U.S. missile factory as it exits stealthCNBC