Texas Weekly Deal Highlights
June 7, 2026
We’re back for another week of deals!
Austin's biggest this week came from the city’s growing defense tech corridor. Allen Control Systems closed a $200 million Series B at a $2.2 billion valuation to scale manufacturing of Bullfrog, its autonomous counter-drone weapon station. Bullfrog is already deployed with the U.S. Army and U.S. Navy, and posted a 100% success rate at T-REX 26-1, one of the Pentagon's premier counter-drone testing events. The company currently holds over $120 million in U.S. government contracts across multiple Bullfrog variants.
Lead investor Smash Capital was co-founded by Kevin Mayer, who studied mechanical engineering at MIT and spent time working on battlefield radar systems before going on to help Disney acquire Marvel and Star Wars and launch Disney+. His recent roles include CEO of TikTok and COO of its parent, ByteDance.
And now, this week’s deals.
Austin
Allen Control Systems, a developer of autonomous precision weapon systems for defense applications, raised $200M in a Series B led by Smash Capital with participation from Rally Ventures, Craft Ventures, Inspired Capital. $242M raised to date.
