18 Uprounds, 1 Listing, over $7 billion of fresh capital: Why AMERICA 2030’s Strategy Is Delivering Results
In just over a quarter into 2025, AMERICA 2030 has witnessed a remarkable confirmation of its investment thesis: 18 companies in our deal pipeline have already raised follow-on rounds at higher valuations, and Kodiak Robotics just announced a public listing via SPAC.
This rapid validation highlights that we are picking the right companies at the right time—positioned at the intersection of defense, energy, security, and AI—at attractive secondary prices before broader capital catches up.
🔒 CYBERSECURITY & AI INFRASTRUCTURE
1. Cybereason - Series G - $125 million
Cybereason, a leader in AI-powered threat detection, secured an upround this year as enterprises and government agencies escalate cyber defense spending. Its behavioral analytics and deep endpoint protection made it an obvious partner for national security contracts.
Outlook: Positioned as a top M&A target or IPO candidate in the next 18 months.
2. PsiQuantum - Series D - $750 million
With national quantum infrastructure emerging as a strategic priority, PsiQuantum closed a major round to build out its fault-tolerant quantum computing systems.
Outlook: Dual-use applications in cryptography, defense, and high-performance computing.
3. Cx2 - Seed - 15 million
The stealth-mode AI-native chipmaker is rumored to have closed a round at a significant markup, as demand for sovereign compute architecture accelerates.
Follow-on Round: Confirmed multi-hundred-million dollar valuation in latest Series B+.
Outlook: Massive TAM with domestic fabs and AI datacenter infrastructure tailwinds.
🛡️ AUTONOMOUS DEFENSE
4. Shield AI - Series F1 - $240 million
Backed by the Pentagon and major VCs, Shield AI’s autonomous flying software stack is rapidly scaling with overseas contracts. Its recent round reflects strong buyer demand.
Outlook: Likely IPO or strategic acquisition within 24 months.
5. Epirus - Series D - $250 million
Specializing in directed energy systems, Epirus raised at a higher valuation amid growing urgency for drone defense tech.
Outlook: Potential DoD program of record designation = exponential upside.
6. Castelion - Series A - $100 million
This agile rocket and munitions company closed a key growth round, showcasing investor appetite for defense manufacturing plays in a high-demand cycle.
Outlook: A prime reshoring & replenishment play amid global conflict risks.
7. Saronic - Series C - $600 million
This autonomous surface vessel builder raised additional capital from top-tier funds to expand military contracts and field-ready testing.
Outlook: Unmanned maritime systems = next-gen defense frontier.
8. Anduril - Series G - $2.5 billion
Already one of the most advanced dual-use primes, Anduril closed another large raise with its valuation continuing to climb.
Outlook: The Palantir of defense hardware and autonomy—with exit optionality anytime.
🛰️ SPACE & AERIAL INFRASTRUCTURE
9. Loft Orbital - Series C - $170 million
Loft’s “space infrastructure as a service” model continues to attract attention. Its latest round values it as a key player in DoD’s hybrid space strategy.
Outlook: Edge compute in orbit and rapid deployment of payloads = critical tech.
10. Elroy Air - Series B - $50 million
Elroy’s autonomous cargo aircraft platform raised capital to continue flight testing and production readiness. With logistics in the Pacific theatre in mind, investors leaned in.
Follow-on Round: Valuation increased 1.8x in new Series B.
Outlook: DARPA-like adoption curve + massive commercial spillover.
11. Overland AI - Series A - $32 million
Their ruggedized autonomous driving stack for defense terrain got a boost with a DARPA contract and a recent equity round.
Outlook: With warzone autonomy a priority, Overland is in a strategic lane.
12. Gallatin.AI - Seed - $200 million
A stealthy but high-conviction pick in the defense AI stack, Gallatin.AI develops autonomous decision-making software optimized for strategic operations, threat evaluation, and targeting. In 2025, it raised a significant upround from top-tier VCs and national security-aligned funds, underscoring rising demand for real-time operational AI at the tactical edge.
Outlook: Positioned to become the “Palantir for autonomous targeting”, Gallatin could become central to both U.S. and allied C4ISR modernization efforts.
🤖 NEXT-GEN ROBOTICS
13. Apptronik - Series A - $400 million
Fresh off unveiling Apollo, a humanoid robot built for logistics and defense, Apptronik raised a major round this quarter.
Outlook: Human-machine teaming is no longer sci-fi—it’s supply chain reality.
14. Figure - Series C $1.5 billion
Figure’s humanoid robots drew $675M at a $2.6B valuation in a round led by Microsoft and Nvidia—validating the AI-robotics crossover.
Outlook: Capable of becoming the Tesla of robotics.
15. Kodiak Robotics - SPAC - $670 million
While not an upround per se, Kodiak just announced a SPAC listing, giving AMERICA 2030 its first potential liquidity event of the year. That brings the tally to 18 validation events in three months.
🔋 ENERGY & DUAL-USE INFRASTRUCTURE
16. Radiant - Series C-2 - $100 million
A compact nuclear microreactor play, Radiant secured a larger valuation round as clean power and battlefield energy gain policy momentum.
Outlook: First-mover in deployable fission units, aligned with defense and decarbonization.
17. Terradepth - Series A - $20 million
A dual-use ocean mapping and data infrastructure play, Terradepth raised follow-on capital amid rising geopolitical ocean surveillance needs.
Outlook: Blue-tech + data = sovereign subsea infrastructure bet.
18. Bedrock Energy
Bedrock Energy is pioneering deep geothermal systems that turn the earth itself into a scalable energy source. In a world hungry for resilient, base-load clean energy, Bedrock’s approach offers a decentralized alternative to grids reliant on weather or fuel logistics.
Outlook: A dual-use play in decarbonization and national energy resilience—especially relevant for off-grid defense installations and hardened infrastructure.
19. Base Power Company
Base Power is building AI-optimized power infrastructure for defense and critical assets, making energy delivery smarter, more autonomous, and more secure. The company recently closed a major $200M Series B round led by premier tech and energy investors.
Outlook: Positioned as a backbone of both AI datacenter power and national defense infrastructure, Base Power is rapidly becoming a core enabler of the U.S. energy security stack.
🎯 Closing Thoughts
Validation doesn’t always wait for the IPO. With 18 uprounds and 1 listing, and over $7 billion in fresh capital in Q1 2025 alone, AMERICA 2030 has demonstrated it can pick winning teams before the broader market catches up. Our research-driven, secondary-led approach is working—and with valuations still recovering from the 2023 correction, the window remains open.
What is IPO CLUB
We are a club of Investors with a barbell strategy: very early and late-stage investments. We leverage our experience to select investments in the world’s most promising companies.
Disclaimer
Private companies carry inherent risks and may not be suitable for all investors. The information provided in this article is for informational purposes only and should not be construed as investment advice. Always conduct thorough research and seek professional financial guidance before making investment decisions.
