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Fortune | FORTUNE

One man can kill Bill Ackman’s $64 billion bid for Universal Music Group—and no one knows what he’ll do | Fortune Poppi’s cofounder pitched her startup on Shark Tank while 9 months pregnant and landed a $400,000 deal—now it's worth $2 billion | Fortune Teen boys are choosing AI girlfriends over real ones for 'maximum control, zero rejection'—experts say it could make them unemployable | Fortune A United American merger is by no means impossible given the president 'loves big deals' | Fortune Reed Hastings’s planned exit from $455 billion Netflix ‘had nothing to do with’ the failed deal for Warner Bros., says Ted Sarandos | Fortune Meet Joe McCann: The high-flying crypto trader held in Tanzania after sudden death of his influencer fiancée Ashly Robinson | Fortune Gen Z is carving a different path in the housing market by doing it alone | Fortune U.S. Catholic leaders criticize Trump for ‘disparaging words’ about the pope as Vatican clash risks alienating Catholic voters | Fortune China has ‘nearly erased’ America’s lead in AI—and the flow of tech experts moving to the U.S. is slowing to a trickle, Stanford report says | Fortune Self-made millionaire behind $5 billion Skims Emma Grede says it all began with a cold call to Kris Jenner: Emma Grede—the self-made millionaire behind the $5 billion Skims empire—says it all began with an audacious cold call to Kris Jenner: ‘The difference between me and someone else is, I made it happen’ | Fortune Americans have never been this gloomy about the economy. Wall Street has never cashed in harder | Fortune ‘The college grading system [is] almost meaningless’: People see the Ivy League as an easy A and with flawed admissions standards | Fortune The CEO of $8.5 billion Japanese car giant Nissan plays the drums in a band and hits the tennis courts to destress from the top job | Fortune New York governor's take on a millionaires tax: fancy pied-à-terre second apartments worth over $5 million | Fortune Pope Leo XIV: A ‘handful of tyrants’ are ravaging earth with war and exploitation | Fortune Trump has no plan to cut the $39 trillion national debt, but he does want to cut childcare. His budget director is scrambling to clarify | Fortune China's economy grows 5% in first quarter, surprising economists to the upside | Fortune Everyone was wondering what Trump wanted more: Warsh smoothly seated at the Fed, or for Powell to pay. We have our answer | Fortune Palantir exec: the biggest mistake retailers are making with AI? Trying to do it all with one agent | Fortune American YouTuber who calls himself a 'troll' sentenced to 6 months in Korean prison for literally dancing on wartime graves | Fortune BBC plans to cut up to 2,000 jobs to save 10% of annual budget | Fortune Canva debuts a new suite of agentic tools, as the design app quietly becomes one of the world’s most used AI services | Fortune Moody's CEO: AI has a trust problem – better models won’t fix it | Fortune Top New York surgeon: Americans have better data for choosing restaurants than surgeons. That has to change | Fortune The Iran war’s fertilizer shock is hammering American farmers, and 70% can’t afford what they need for this year’s growing season | Fortune Education experts to Mamdani: Why are you foisting AI on our kids? | Fortune This CEO pirated video games as a teen and became a hacker for the Air Force. Now he’s built a $3 billion cyber firm | Fortune Teacher, blame thyself: Yale report savages Ivy League schools for destroying American trust in higher education | Fortune Fed chair nominee Kevin Warsh is worth more than $100 million and has stakes in SpaceX and Polymarket | Fortune From wool sneakers to GPUs: Allbirds’ desperate AI pivot and 600% stock surge, explained | Fortune
Exclusive: 'We're spending millions to stop threats that ...
Lily Mae Laz · 2026-05-14 · via Fortune | FORTUNE

Brody Franzen is showing me his missiles and his comically large American flag. His company Furientis, operates out of Lenny Kravitz’s old studio in Los Angeles. He puts his head next to two mach three (three times the speed of light) nose cones that are browned like toasted marshmallows. “That’s from the supersonic flow hitting the nose,” he says.

Franzen is the cofounder and CEO of Furientis, a defense startup that emerged from stealth with $5 million in pre-seed funding, Fortune learned exclusively. Silent Ventures led the round with participation from Bessemer Venture Partners, SV Angel, Vanderbilt University, Channel 39 Ventures, and the founders of companies including Anduril and Armada.

Furientis’ pitch is expectedly intertwined with geopolitics. The U.S. has depleted its stockpile of seven major types of missiles, according to the Center for Strategic and International Studies—including using more than 150 THAAD interceptors—missiles that Lockheed Martin typically produces about 96 of per year. The U.S. military was also firing multi-million-dollar interceptors at drones that cost as little as $5,000 in Iran. “This mismatch is what pushed us to start Furientis,” Franzen told Fortune. “We’re spending millions to stop threats that cost thousands, and it doesn’t scale.”

But it’s production, not price, that’s the real problem. In the 1990s, there were more than 50 defense “primes”—the manufacturers that build complete weapons systems. Today, there are five. In ship-borne interceptors, there’s one. “Our adversaries, like China, are claiming the capacity of building thousands of anti-ship cruise missiles per week,” he says. “The math just doesn’t make sense from a production standpoint.”

His answer is to build ship-based interceptor missiles like cars, or better yet, IKEA furniture. Furientis uses automotive-style materials, automotive-style assembly processes, and commercial off-the-shelf components—rather than the “exquisite” bespoke hardware that’s made legacy interceptors expensive and slow to produce. The cost comparison is $250,000 per Furientis missile compared to the $1 to $5 million missiles built by most primes. Franzen’s target: 1,000 missiles per year, per factory, starting with a 9,000-square-foot facility in Los Angeles.

And while traditional primes spend a year or more doing computer modeling before their first hardware test, Furientis runs four-week design cycles with monthly flight tests. The company also makes its own solid rocket motors in-house, a capability that most primes outsource, and one that Franzen argues is where the whole supply chain bottleneck actually lives. 

Leadership at Furientis has a combined résumé that reads like the greatest hits of the new aerospace industrial base. Franzen spent years as deputy chief engineer at Virgin Galactic and helped send Sir Richard Branson to space. He then joined Castelion—a hypersonics startup that closed a $350 million Series B in 2025—as a senior engineer. His cofounder, Aris Simsarian, ran rocket engine testing at Virgin Orbit.

Franzen told me to look for “some really significant demonstrations” of their product later this year. He sent me a sneak peek of their most recent test of Furientis’ F 1.0 (the missile’s working name). The first seconds of the aerial video were eerily still before a line of white smoke erupted from the ground and sliced through the sky.

See you tomorrow,

Lily Mae Lazarus
X:
 @LilyMaeLazarus
Email: lily.lazarus@fortune.com
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VENTURE DEALS

- Recursive, a San Francisco and London, U.K.-based self-improving AI platform, raised $650 million in funding. GV and Greycroft led the round and were joined by AMD Ventures, Nvidia, and others.

- Fractile, a London, U.K.-based AI inference chipmaker, raised $220 million in Series B funding. Accel, Factorial Funds, and Founders Fund led the round and were joined by Felicis, Conviction, Gigascale, O1A, Buckley Ventures, and 8VC

- Star Catcher, a Jacksonville, Fla.-based company building a power grid in space, raised $65 million in Series A funding. B Capital, Shield Capital, and Cerberus Ventures led the round and were joined by GreatPoint Ventures, Helena, Oceans Ventures, and MVP Ventures.

- NVision, an Ulm, Germany-based quantum technology company, raised $55 million in Series B funding from Abbott, Playground Global, and others.

- Outmarket AI, a San Francisco-based AI platform designed for insurance, raised $17 million in Series A funding. Permanent Capital Ventures led the round and was joined by SignalFire, Fika Ventures, TTV Capital, and Dash Fund.

- Casimir, a Houston, Texas-based quantum vacuum energy company, raised $12 million in seed funding. Scout Ventures led the round and was joined by Lavrock Ventures and others.

- Hint, a Charlotte, N.C.-based AI home management startup, raised $10 million in seed funding. Slow Ventures led the round and was joined by Montauk Capital, Tusk Venture Partners, and others.

- Cimento AI, a Salt Lake City, Utah-based human-risk security platform, raised $3 million in pre-seed funding. Bowery Capital and Indie VC led the round and were joined by angel investors.

PRIVATE EQUITY

 - Ajax Health Fund invested $60 million in UroMems, a Grenoble, France and Minneapolis, Minn.-based developer of implantable technology for stress urinary incontinence. 

- Good Springs Capital acquired a majority stake in Snyder Environmental Services, a Kearneysville, W.V.-based environmental infrastructure services company. Financial terms were not disclosed.

- Visma, backed by Hg Capital, acquired Dootax, a São Paulo, Brazil-based tax automation platform, and Pag Útil, a São Paulo, Brazil-based tax issuance and payment platform. Financial terms were not disclosed.

IPOS

- Fervo Energy, a Houston-based geothermal energy company, raised $1.9 billion in an offering of 70 million shares priced at $27 on the Nasdaq.

- GMR Solutions, a Lewisville, Texas-based emergency medical services provider, raised $479 million in an offering of 31.9 million shares priced at $15 on the New York Stock Exchange. 

FUNDS + FUNDS OF FUNDS

- Finback Investment Partners, a Coral Gables, Fla.-based private equity firm, raised $500 million for its second fund focused on health care, digital infrastructure, financial services, technology and software, industrials, and education companies.

PEOPLE

- Washington Harbour Partners, an Arlington, Va.-based private investment firm, hired Brian Smith as a Senior Partner. Previously, he was with In-Q-Tel.