Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

Mach Industries / Private Capital Markets

<ul><li>Mach Industries raised a $300 million round in June 2026, lifting its valuation to $1.8 billion.</li><li>Dart is an end-to-end counter-unmanned aerial system that combines frequency modulated continuous wave (FMCW) ground radar, command-and-control software, rocket-powered interceptors, and a launch box.</li><li>The Pentagon&#39;s Replicator initiative and similar allied programs are budgeting to purchase thousands of low-cost autonomous systems by 2026, creating a pipeline that extends well beyond early Army and Air Force prototype contracts.</li></ul>

Mach Industries raised a $300 million round in June 2026, lifting its valuation to $1.8 billion.Dart is an end-to-end counter-unmanned aerial system that combines frequency modulated continuous wave (FMCW) ground radar, command-and-control software, rocket-powered interceptors, and a launch box.The Pentagon&#39;s Replicator initiative and similar allied programs are budgeting to purchase thousands of low-cost autonomous systems by 2026, creating a pipeline that extends well beyond early Army and Air Force prototype contracts.

<ul><li>Sacra estimates that Shield AI hit approximately $300M in revenue for the year ending March 2025, up from $267M in 2024.</li><li>In March 2026, Shield AI raised a $1.5B Series G at a $12.7B post-money valuation, alongside $500M in fixed-return preferred equity.</li><li>Shield AI now supplies V-BATs to the Indian Army, with the program including Hivemind software licenses and the Hivemind SDK.</li></ul>

Sacra estimates that Shield AI hit approximately $300M in revenue for the year ending March 2025, up from $267M in 2024.In March 2026, Shield AI raised a $1.5B Series G at a $12.7B post-money valuation, alongside $500M in fixed-return preferred equity.Shield AI now supplies V-BATs to the Indian Army, with the program including Hivemind software licenses and the Hivemind SDK.

<ul><li>The company employs a B2G (Business-to-Government) go-to-market strategy focused on direct contracting with defense departments, military branches, and government-aligned international coalitions.</li><li>The Archer uses a proprietary multi-band radio system that maintains control even when facing active electronic jamming—a critical battlefield advantage.</li><li>With Archer now on the BlueUAS list, Neros has unlocked access to procurement across multiple branches of the U.S. military.</li></ul>

The company employs a B2G (Business-to-Government) go-to-market strategy focused on direct contracting with defense departments, military branches, and government-aligned international coalitions.The Archer uses a proprietary multi-band radio system that maintains control even when facing active electronic jamming—a critical battlefield advantage.With Archer now on the BlueUAS list, Neros has unlocked access to procurement across multiple branches of the U.S. military.

<ul><li>Sacra estimates that Destinus generated approximately $70M in revenue in 2024, up 280% from $18M in 2023.</li><li>The earliest disclosed round was a seed of CHF 26.8 million (approximately $29 million) in February 2022, led by Conny & Co., Quiet Capital, One Way Ventures, Liquid2 Ventures, Cathexis Ventures, and ACE & Company.</li><li>Destinus is building autonomous unmanned aircraft systems for defense and dual-use applications, with a longer-term roadmap for hypersonic cargo and passenger transport using liquid hydrogen as fuel.</li></ul>

Sacra estimates that Destinus generated approximately $70M in revenue in 2024, up 280% from $18M in 2023.The earliest disclosed round was a seed of CHF 26.8 million (approximately $29 million) in February 2022, led by Conny & Co., Quiet Capital, One Way Ventures, Liquid2 Ventures, Cathexis Ventures, and ACE & Company.Destinus is building autonomous unmanned aircraft systems for defense and dual-use applications, with a longer-term roadmap for hypersonic cargo and passenger transport using liquid hydrogen as fuel.

Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
<li>Welcome to Curator’s Cut - a fortnightly roundup of standout themes from the 1,600+ insights published on Smartkarma.</li>
<li>In this cut, we examine the global naval reinvestment cycle, survey stocks benefitting from nuclear power's comeback, and review the case for a couple of confirmed corporate spin-offs.</li>
<li>Want to dig deeper? Comment or message with the themes you’d like to see highlighted next.</li>
</ul>


Welcome to Curator’s Cut - a fortnightly roundup of standout themes from the 1,600+ insights published on Smartkarma.
In this cut, we examine the global naval reinvestment cycle, survey stocks benefitting from nuclear power's comeback, and review the case for a couple of confirmed corporate spin-offs.
Want to dig deeper? Comment or message with the themes you’d like to see highlighted next.


Curator's Cut: Naval Navigations, Nuclear Renaissance & Spin-Off Situations

United States

Hardware-software defense systems for autonomous drones, surveillance towers, and counter-drone warfare

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Anduril (ANDURIL US)

Primer: Mach Industries - 02 Jun 2026

Developer of hydrogen-powered defense platforms including unmanned aerial vehicles and munitions

Sacra

Primer: Shield AI - 31 May 2026

AI software for autonomous navigation of military drones and aircraft in denied environments

Sacra

Primer: Neros - 29 May 2026

The company employs a B2G (Business-to-Government) go-to-market strategy focused on direct contracting with defense departments, military...

Sacra

Primer: Destinus - 25 May 2026

Hypersonic aircraft manufacturer developing high-speed cargo and passenger transportation

Sacra

Curator's Cut: Naval Navigations, Nuclear Renaissance & Spin-Off Situations

This Curator's Cut issue highlights global naval reinvestment, nuclear power stocks, and corporate spin-offs from Smartkarma's insights. Comment...

Pranav Rao

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Primer: Mach Industries - 02 Jun 2026

Developer of hydrogen-powered defense platforms including unmanned aerial vehicles and munitions

Sacra

Primer: Shield AI - 31 May 2026

AI software for autonomous navigation of military drones and aircraft in denied environments

Sacra

Primer: Neros - 29 May 2026

The company employs a B2G (Business-to-Government) go-to-market strategy focused on direct contracting with defense departments, military...

Sacra

Primer: Destinus - 25 May 2026

Hypersonic aircraft manufacturer developing high-speed cargo and passenger transportation

Sacra

Curator's Cut: Naval Navigations, Nuclear Renaissance & Spin-Off Situations

​This Curator's Cut issue highlights global naval reinvestment, nuclear power stocks, and corporate spin-offs from Smartkarma's insights. Comment...

Pranav Rao

This Curator's Cut issue highlights global naval reinvestment, nuclear power stocks, and corporate spin-offs from Smartkarma's insights. Comment...