Firehawk raises $150M at $1.4B valuation to build more rocket motors
Dallas-based rocket propulsion firm Firehawk has raised more than $150 million in a Series D round that values the company at more than $1.4 billion, money it will use to scale up U.S. production of rocket propellant, solid rocket motors and artillery motors, the company said on social media on Oct. 28.
Private equity firm Advent and Rochefort Asset Management, co-founded by Dallas investor Kyle Bass, led the round, with new and existing investors and strategic partners also taking part. Firehawk said the round was upsized and oversubscribed, and the Dallas Morning News reported its original target was $100 million. The company did not disclose how much each investor put in.
The money will fund the build-out of Firehawk’s propellant and rocket motor plant in Lawton, Oklahoma, and its missile integration facility in Crawford, Mississippi, along with new research and development sites and more hiring, the company said in its funding announcement. Firehawk plans to produce more than 100,000 artillery motors in 2027 under a commercial agreement with General Dynamics, and its Oklahoma plant is expected to start low-rate production by mid-2027.
Firehawk was founded in 2019 by CEO Will Edwards to make hybrid rocket engines powered by 3D-printed fuel, and it now describes itself as covering the whole chain from propellant to motors to complete rounds. Its pitch is volume: the U.S. military’s appetite for rockets and missiles has outrun the small number of established solid rocket motor suppliers, and Firehawk says its patented manufacturing process can produce propellant faster and at larger scale for smaller tactical weapons.
The company broke ground on its Great Plains Arsenal rocket motor and propellant plant in Lawton in April. Its Crawford site can integrate 40,000 tactical rockets a year, and Firehawk says it plans to raise that to about 120,000 at full-rate production.
Photo courtesy Firehawk
Much of that work centers on the Hydra-70, the 70 mm unguided rocket fired from U.S. Army attack helicopters and other aircraft. This summer the U.S. Army picked Firehawk as one of four new companies to build Hydra-70 rockets, alongside iRocket, Nammo Perry and Albers, with each required to deliver 24 prototype M151 rockets within 18 months. In August, Firehawk fired six Hydra-70 rockets at Yuma Proving Ground in Arizona, all of which worked as intended.
The Series D follows a $60 million Series C that closed in September 2025 and a strategic investment in November 2025 aimed at speeding up solid rocket motor production and integration.
Firehawk has not said how many Hydra-70 rockets or rocket motors it has delivered to the U.S. military so far, or when its Oklahoma plant will reach full-rate production.
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Firehawk raised over $150 million on October 28, 2023, to enhance production capabilities for rocket motors and propellant in Lawton, Oklahoma, and Crawford, Mississippi. The company aims to produce over 100,000 artillery motors by 2027 and has been selected by the U.S. Army to manufacture Hydra-70 rockets. The funding will support the build-out of its facilities and increase hiring for production efforts.
- Firehawk raised over $150 million in Series D funding.
- The company plans to produce over 100,000 artillery motors by 2027.
- Firehawk's Oklahoma plant will start low-rate production by mid-2027.
- The U.S. Army selected Firehawk to build Hydra-70 rockets.
- Firehawk's production facilities are located in Lawton, Oklahoma, and Crawford, Mississippi.