Covenant was founded in 2024 by CEO Michael Kaufman, a dual American-Israeli citizen, and Israeli engineer Ofir Dayan, who previously served as a chief systems engineer for Israel’s Iron Dome defense system. The company has raised more than $250 million, reached a valuation above $1 billion and already secured approximately $150 million in orders.
Its new Anthem cruise missile launches from the ground, carries more than 440 pounds of payload and has completed over 200 test flights. Covenant expects each missile to cost in the mid-six figures, far below long-range missiles that can cost several million dollars each.
The company plans three production centers, up to 5,000 missiles annually in America, another 5,000 in Germany and 2,000 in Israel. Together, the factories could eventually produce as many as 12,000 missiles every year.
Covenant has not announced an order from Israel, but choosing Israel as one of only three global manufacturing centers is significant.