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

<ul><li>Sacra estimates that Anduril hit $2.2B in revenue in 2025, up 120% from $1B in 2024.</li><li>The company is projecting $4.3B in revenue for 2026, driven by Arsenal-1 scaling production in Ohio, with over $900M in campus spend tied to the facility.</li><li>Anduril closed a $5B funding round in May 2026, supplying capital to accelerate product development and secure additional defense contracts.</li></ul>

Sacra estimates that Anduril hit $2.2B in revenue in 2025, up 120% from $1B in 2024.The company is projecting $4.3B in revenue for 2026, driven by Arsenal-1 scaling production in Ohio, with over $900M in campus spend tied to the facility.Anduril closed a $5B funding round in May 2026, supplying capital to accelerate product development and secure additional defense contracts.

Quantum Systems / Private Capital Markets

<ul><li>Quantum Systems generated $330M in revenue in 2025, up 161% year-over-year from $124M in 2024.</li><li>The CFO said in July 2026 that revenue is on track to maintain a similar rate of growth in 2026, implying a trajectory toward $600M or more for the full year.</li><li>Quantum Systems closed a $1.2B Series D on July 2, 2026, at a post-money valuation of approximately $8B, co-led by Blackstone, Noteus, Airbus, and Advent.</li></ul>

Quantum Systems generated $330M in revenue in 2025, up 161% year-over-year from $124M in 2024.The CFO said in July 2026 that revenue is on track to maintain a similar rate of growth in 2026, implying a trajectory toward $600M or more for the full year.Quantum Systems closed a $1.2B Series D on July 2, 2026, at a post-money valuation of approximately $8B, co-led by Blackstone, Noteus, Airbus, and Advent.

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>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 Threod Systems generated $44 million in revenue in 2024, up 87% from the previous year.</li><li>Operating cash flow turned negative at -€1.28M in 2024 versus +€7.76M in 2023, reflecting working capital investments as the company scaled from 121 to 161 employees and expanded manufacturing capacity.</li><li>The company&#39;s revenue target of reaching $110 million within the next few years suggests management expects this defense spending boom to continue.</li></ul>

Sacra estimates that Threod Systems generated $44 million in revenue in 2024, up 87% from the previous year.Operating cash flow turned negative at -€1.28M in 2024 versus +€7.76M in 2023, reflecting working capital investments as the company scaled from 121 to 161 employees and expanded manufacturing capacity.The company&#39;s revenue target of reaching $110 million within the next few years suggests management expects this defense spending boom to continue.

United States

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

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Shield AI (AI US)

Primer: Anduril - 10 Jul 2026

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

Sacra

Primer: Quantum Systems - 03 Jul 2026

Developer and manufacturer of autonomous unmanned systems and multi-sensor payloads for aerial, ground, and maritime mission intelligence

Sacra

Primer: Mach Industries - 02 Jun 2026

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

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: Threod Systems - 10 Mar 2026

Developer and producer of unmanned aircraft systems (UAS) for intelligence, surveillance, target acquisition, and reconnaissance operations

Sacra

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