Covenant, a defense technology startup backed by Andreessen Horowitz and Peter Thiel, announced on Wednesday the opening of a 105,000-square-foot missile factory in Dallas, Texas. The facility aims to accelerate the production of low-cost missiles for the U.S. military. The company also announced it has secured $250 million in funding and officially emerged from stealth mode. Covenant's Anthem long-range, heavy-payload cruise missile factory is slated to begin mass production in the first quarter of 2027, with a target output of 1,000 missiles in its first year, eventually expanding to 5,000 annually. Additionally, the company announced two Department of Defense agreements with the U.S. Army and Navy.