Covenant Opens Dallas Missile Factory, Raises $250 Million

According to CNBC, defense tech startup Covenant opened a 105,000-square-foot factory in Dallas to speed lower-cost missile production for the U.S. military and said it has raised $250 million across three funding rounds. The company, which is emerging from stealth and is backed by Andreessen Horowitz, Peter Thiel's Founders Fund, Lux, 8VC, Aleph and Lightspeed, said the Dallas site will produce 1,000 Anthem long-range missiles in its first year, with serial production set to begin in Q1 2027 and output eventually rising to 5,000 a year. Covenant also said it secured two Department of Defense deals on Wednesday, including one to accelerate a test and qualification program with the Army and another with the Navy to adapt Anthem for maritime use.