Backswing Ventures: What Mach Industries' $3.7 Billion Valuation Says About the Defense Tech Hype Cycle

<p>As 2026 defense tech funding sets records, Backswing Ventures says the number that matters isn't the valuation on a term sheet. It's the cash that eventually lands back in an investor's account. ORLANDO, Fla., Sept. 14, 2026 /PRNewswire/ -- Mach Industries doubled its valuation to $3.7...</p>