Latham Advises Saronic in US$175 Million Series B Financing

Saronic, a defense technology leader that designs and manufactures autonomous surface vessels (ASVs), has announced a US$175 million Series B raise placing the company’s valuation at US$1 billion. The funding round was led by Andreessen Horowitz (a16z), with participation from both new and existing investors, including 8VC, Caffeinated Capital, Elad Gil, and NightDragon, among others.

Latham & Watkins LLP represented Saronic with a corporate deal team led by Bay Area partners Ben Potter and Ashley Wagner, and Washington D.C. partner Kyle Jefcoat, with associates Chris Pham, Kayleigh Kuyon, and Ryleigh Chen. Advice was also provided on CFIUS matters by Washington D.C. counsel Ruchi Gill, with associate Julie Choi Shin; and on IP matters by Bay Area partner Michelle Gross, with associate Amy Tosi.