Armada Raises $230M at $2B Valuation to Build Portable AI Data Centers

Quick Facts

• Armada raised $230 million at a $2 billion valuation led by BlackRock, Overmatch, and 8090 Industries
• Company will manufacture modular data centers at a new 400,000-square-foot Arizona factory creating 500 jobs
• Customer bookings grew 540% from fiscal 2025 to fiscal 2026, with Q1 FY27 jumping 2,000% year-over-year

San Francisco-based Armada Inc. raised $230 million in funding at a $2 billion valuation to build portable AI data centers. BlackRock, Overmatch, and 8090 Industries led the oversubscribed round.

The company manufactures modular data centers through its Galleon product line. The systems range from suitcase-sized units to megawatt-scale modules that can deploy in days rather than years.

Armada inked a manufacturing partnership with Johnson Controls to produce the systems at a new Arizona factory called Galleon Forge One. The 400,000-square-foot facility will create more than 500 jobs and begin producing Leviathan units this summer.

“The AI race will not be won by one-off projects,” said Dan Wright, co-founder and CEO of Armada. “It will be won by the companies and countries that can manufacture, deploy, and continuously improve AI infrastructure, with speed, scale and sovereignty.”

The Leviathan system provides ten times the computing power of Armada’s previous largest unit, Triton. It ships in two 45-foot containers plus a smaller 20-foot container and offers megawatt-scale capacity.

Unlike traditional data centers, Armada’s systems attach to existing energy sources including solar power and gas flares from oil wells. The company targets military, mining, telecommunications, and oil and gas customers operating in harsh environments.

The U.S. Navy used Armada’s systems during the UNITAS naval exercise. The company also has projects in Australia and Norway’s oil sector.

Customer bookings exploded 540% from fiscal 2025 to fiscal 2026. First quarter fiscal 2027 bookings jumped 2,000% year-over-year.

Johnson Controls CEO Joakim Weidemanis joined the funding round as a strategic investor. “Johnson Controls is working with Armada to rapidly deliver secure modular data centers at scale,” he said.

Armada was named to CNBC’s 2026 Disruptor 50 list, ranking 26th. The global modular data centers market is expected to grow at 22.4% annually through 2030.

Wright previously served as CEO of DataRobot and COO of AppDynamics through its $3.7 billion acquisition by Cisco. The company emerged from discussions between Wright, co-founder Jon Runyan, and investors at Founders Fund and 137 Ventures.

Read more: Armada raises $230M at $2B valuation to build portable AI data centers