Altimeter

Amid re-escalation in the Middle East and amid a steady drumbeat of reports that American stockpiles of missiles and munitions are depleted, one company is emerging from stealth with a new long range missile that can carry heavy payloads and could potentially disrupt a cruise missile market that's been dominated by RTX's Tomahawk.

Covenant is a two years old, but its Anthem missile has logged more than 200 test flights and it has government contracts in the US and Europe, and touts investors including A16Z and Altimeter.

Today, the startup is unveiling its new factory in Texas, and Covenant President Abby Denberg says the missile will cost, quote, "A fraction of the exquisite capabilities in the US arsenal."

arsenal."But what I can say is when we look at the US arsenal today, there are high-end exquisite capabilities, and there will always be a need for that.

We have Mohit from Siphon.

He's got a big funding round from Altimeter.

We have Akshay from Pocket, sold over 200,000 devices.

We were talking to Jimmy yesterday.

We've been pretty proactive talking with our ELPAC about liquidity opportunities.

We actually did a great episode with Megan Reynolds from Altimeter and Jason last year, and I learned a ton.

We wrote like a whole guide on secondaries because it was very interesting to see it rise from this like swept under the rug taboo topic to now generating, I think it was like the majority of exits.

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