# Defence Tech startup funding, September 2026: Mach Industries's $600M Series C leads 14 rounds > We read 14 equity rounds in Defence Tech announced in September 2026, raising $1.4B between them: 4% of all the rounds we read that month and 4% of the money. Source: https://millionrounds.com/news/monthly/2026-09/sector/defensetech (Millionrounds; every figure on the page links to its filing or article) Equity rounds **14** in Defence Tech, 12 with an amount Raised **$1.4B** across those rounds Lead named **79%** of rounds say who led Share of the month **4%** of rounds; 4% of the money ## The biggest rounds - [1 **Mach Industries** Series C · United States **$600M**](https://millionrounds.com/company/mach-industries) - [2 T **TEKEVER** Series D · United Kingdom · led by Baillie Gifford, UC Investments **$580M**](https://millionrounds.com/company/tekever) - [3 **Quartermaster** Series B · United States · led by Insight Partners **$140M**](https://millionrounds.com/company/quartermaster) - [4 H **HEO Robotics** Series B · Australia · led by Beaten Zone Venture Partners **$25M**](https://millionrounds.com/company/heo-robotics) - [5 P **Pilgrim** Seed · United States · led by Buckley Ventures **$25M**](https://millionrounds.com/company/pilgrim) - [6 I **INLEAP Photonics** Series A · Germany · led by UVC Partners **$23M**](https://millionrounds.com/company/inleap-photonics) - [7 **TERASi** Seed · Sweden · led by NATO Innovation Fund (NIF), Join Capital **$13M**](https://millionrounds.com/company/terasi) - [8 H **Hop Aero** Seed · United States · led by Initialized Capital **$11M**](https://millionrounds.com/company/hop-aero) - [9 K **KVector** Seed · United Kingdom · led by Mercia Asset Management **$5.1M**](https://millionrounds.com/company/kvector) - [10 **Occam** Seed · United Kingdom · led by North Ventures **$4.3M**](https://millionrounds.com/company/occam) ## Day by day Equity rounds in Defence Tech announced each day of September. The busiest day was 30 September, with 3. 1 September 30 September ## By stage, against the year Each stage's median this month beside its twelve-month median: the sector's own where we hold enough rounds for a benchmark, otherwise the one across all sectors. [Pre-seed](https://millionrounds.com/benchmarks/pre-seed) *1* **$2.1M** this month **$2.0M** 12 months, all sectors [Seed](https://millionrounds.com/benchmarks/seed/defensetech) *6* **$8.1M** this month **$8.8M** 12 months here [Series A](https://millionrounds.com/benchmarks/series-a/defensetech) *2* **$23M** this month **$25M** 12 months here [Series B](https://millionrounds.com/benchmarks/series-b) *2* **$83M** this month **$50M** 12 months, all sectors [Series C](https://millionrounds.com/benchmarks/series-c) *1* **$600M** this month **$100M** 12 months, all sectors [Series D](https://millionrounds.com/benchmarks/series-d) *1* **$580M** this month **$150M** 12 months, all sectors [Growth](https://millionrounds.com/benchmarks/growth) *1* **-** this month **$113M** 12 months, all sectors ## Where - [United States](https://millionrounds.com/news/monthly/2026-09/united-states) **4** - [United Kingdom](https://millionrounds.com/news/monthly/2026-09/united-kingdom) **3** - Sweden **2** - [Germany](https://millionrounds.com/news/monthly/2026-09/germany) **2** - Estonia **1** - [Canada](https://millionrounds.com/news/monthly/2026-09/canada) **1** - [Australia](https://millionrounds.com/news/monthly/2026-09/australia) **1** United States had the most Defence Tech rounds this month. ## Against the month - Rounds, Defence Tech **14** - Rounds, all sectors **357** - Raised, Defence Tech **$1.4B** - Raised, all sectors **$39B** [The whole of September 2026](https://millionrounds.com/news/monthly/2026-09) ## Other sectors in September [195 rounds **AI** *→*](https://millionrounds.com/news/monthly/2026-09/sector/ai)[51 rounds **Fintech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/fintech)[39 rounds **Healthcare** *→*](https://millionrounds.com/news/monthly/2026-09/sector/healthcare)[30 rounds **Big Data & Analytics** *→*](https://millionrounds.com/news/monthly/2026-09/sector/big-data)[27 rounds **Biotech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/biotech)[25 rounds **Robotics** *→*](https://millionrounds.com/news/monthly/2026-09/sector/robotics)[24 rounds **Cybersecurity** *→*](https://millionrounds.com/news/monthly/2026-09/sector/cybersecurity)[23 rounds **Hardware & Electronics** *→*](https://millionrounds.com/news/monthly/2026-09/sector/hardware)[22 rounds **Enterprise Software** *→*](https://millionrounds.com/news/monthly/2026-09/sector/enterprise-software)[21 rounds **Software** *→*](https://millionrounds.com/news/monthly/2026-09/sector/software)[21 rounds **Energy** *→*](https://millionrounds.com/news/monthly/2026-09/sector/energy)[21 rounds **Construction** *→*](https://millionrounds.com/news/monthly/2026-09/sector/construction)[20 rounds **Healthtech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/healthtech)[20 rounds **SaaS** *→*](https://millionrounds.com/news/monthly/2026-09/sector/saas)[19 rounds **Logistics** *→*](https://millionrounds.com/news/monthly/2026-09/sector/logistics)[17 rounds **Manufacturing** *→*](https://millionrounds.com/news/monthly/2026-09/sector/manufacturing)[16 rounds **Cleantech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/cleantech)[14 rounds **Aerospace & Space** *→*](https://millionrounds.com/news/monthly/2026-09/sector/aerospace)[13 rounds **Telecoms** *→*](https://millionrounds.com/news/monthly/2026-09/sector/telecom)[13 rounds **Semiconductors** *→*](https://millionrounds.com/news/monthly/2026-09/sector/semiconductors)[13 rounds **Climate Tech** *→*](https://millionrounds.com/news/monthly/2026-09/sector/climate)[11 rounds **Automotive & EVs** *→*](https://millionrounds.com/news/monthly/2026-09/sector/automotive)[10 rounds **Cloud** *→*](https://millionrounds.com/news/monthly/2026-09/sector/cloud) **How this roundup is made** It is written from the rounds we read that month in named articles and filings, by the sectors we file each company under; a company can sit in more than one, so sector roundups overlap. Only equity rounds with a stage count; debt, grants and public companies' raises do not. Each sector with 10 or more equity rounds in a month gets its own roundup. We read more sources every month, so compare medians, not totals. [How we read rounds](https://millionrounds.com/methodology) · [Report a mistake](https://millionrounds.com/corrections)