Saronic Technologies has raised US$600 million in its series C funding round, bringing its valuation to US$4 billion.

This funding round, led by investor Elad Gil, occurred seven months after the company achieved unicorn status.

The funds will be used to construct Port Alpha, a shipyard designed to build autonomous ships primarily for defense purposes.

Saronic intends for the facility to address US shipbuilding capacity challenges.

It will focus on developing medium and large Autonomous Surface Vessels (ASVs) to support the US Navy’s hybrid fleet.