Missile startup emerges from the shadows: Covenant raises $250M - signed contracts worth $150M

Covenant, a missile startup founded in 2024 by Israeli-American Michael Kaufman, emerges from stealth, revealing a $250 million raise from top defense-tech funds including Andreessen Horowitz and Founders Fund. The company has developed Anthem, a cruise missile designed for rapid, low-cost production compared to Tomahawk missiles, and has secured $150 million in supply contracts with security agencies in the US and Europe.

Covenant, a missile startup founded in 2024 by Israeli-American Michael Kaufman, emerges from two years of stealth, revealing a $250 million raise from leading defense-tech funds. Investors include Andreessen Horowitz, Peter Thiel's Founders Fund, 8VC, Lux Capital, Lightspeed, and Israeli fund Aleph. The latest round was at a valuation exceeding $1 billion. Concurrently, the company unveils its main development: Anthem, a long-range cruise missile carrying heavy payloads, designed for rapid production at dramatically lower cost than American Tomahawk missiles. The missiles were tested in Israel in June 2025, with defense officials from several countries, including Germany, invited to observe. Covenant has signed $150 million in supply contracts with US and European security agencies, and a $70 million contract with the US Navy to develop a naval variant. Serial production is expected to begin in Q1 2027 at a rate of 5,000 units per year. The company employs 200 people in the US, Germany, and Israel.