A British start-up building anti-missile technology similar to Israel’s Iron Dome has raised more than $130mln (£96mln).
Cambridge Aerospace will use the funds to develop its Skyhammer interceptor rockets, designed to knock out drones and missiles at low cost. The company plans large-scale production, aiming to build thousands of rockets each month, with a new parts factory in Norfolk.
The investment round includes backing from D3, a Ukrainian defence fund supported by Google’s former chief executive Eric Schmidt. Since leaving Google, Schmidt has focused on defence projects and has worked with Ukraine on drone deployment.
Cambridge Aerospace was founded...