Armada raises $230 million for modular data centers

Armada, which builds modular data centers that are becoming increasingly popular with customers in defense, energy and the military sector, raised $230 million from investors in a Series B fundraising round announced on Tuesday.

San Francisco-based Armada, which was named to the 2026 CNBC Disruptor 50 list on Tuesday, was valued at $2 billion in the deal.

The investor round comes alongside a manufacturing deal with Johnson Controls , which made an investment in Armada, to produce modular data centers at a new 400,000-square foot Arizona factory called Galleon Forge One.

The factory, expected to create more than 500 jobs, will initially produce Armada's Leviathan, a megawatt-scale data center, starting this summer. Unlike the massive data centers built by the hyperscalers, Armada's data centers can attach to existing energy sources, such as solar power and gas flares produced by oil wells, and can be deployed within days rather than years. The modular data centers enable AI processing to occur on-site rather than requiring data to be transmitted.

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

Wright has framed the company 's mission as tied to America's AI global competition with China, saying it is "the defining race of our time."

Johnson Controls has 40,000 field personnel across key regions which enable Armada to produce and deploy AI infrastructure. "Johnson Controls is working with Armada to rapidly deliver secure modular data centers at scale," said Joakim Weidemanis, Johnson Controls CEO, in a statement. "Johnson Controls' differentiated technology, U.S.-based manufacturing strength and Armada's edge computing expertise will deliver the thermal-critical environments that perform predictably, deploy quickly, and scale with confidence," he added.

The companies have already deployed units across the United States and around the world.

Armada is selling its modular data centers to the U.S. military and within industries such as mining, telecommunications, and oil and gas, all which operate in what Armada calls "rugged" environments.

The U.S. Navy used Armada in its UNITAS Naval exercise with partners in the Americas, with Rear Admiral Carlos Sardiello noting that modular data centers and edge computing help the Navy operate at sea. Armada is also collaborating on the U.S. Department of Energy's Genesis Mission, connecting national labs, supercomputers, and datasets into an AI research platform.

Globally, Armada has projects in Australia with WinDC to deploy portable AI factories, and in Norway's oil and gas industry with Aker BP.

Armada said customer bookings grew 540% from fiscal 2025 to fiscal 2026, and Q1 FY27 alone saw a 2,000% year-over-year spike.

The company said the round was oversubscribed and and co-led by Overmatch, 8090 Industries, and BlackRock , which is a new investor. Johnson Controls, NightDragon, Mitsui, and Singtel Innov8 also joined the round as new strategic investors. Existing investors including Felicis, Marlinspike, Shield Capital, Lux Capital, Founders Fund, Veriten and Gladebrook were also on the deal.

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