(Reuters) -Saronic Technologies said on Tuesday it has closed a $600 million Series C funding round, led by investor Elad Gil, which valued the autonomous shipbuilding company at $4 billion.
The company said it would use the fund to build Port Alpha, a shipyard aimed at delivering new classes of unmanned ships needed to defend the maritime domain.
Saronic received the backing of a new investor, General Catalyst. Its existing investors include a16z, Caffeinated Capital and 8VC.
Venture firms are growing more comfortable with signing big checks as a recovery in dealmaking and initial public offerings, spurred by interest rate cuts, provides them with greater opportunities to exit their investments.
Global venture capital dealmaking activity rose more than 5% to $368.5 billion last year, according to a report by PitchBook.
(Reporting by Ananya Mariam Rajesh and Niket Nishant in Bengaluru; Editing by Shilpi Majumdar)
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