
Y Combinator—the startup incubator that helped launch DoorDash, Airbnb, Reddit, and Instacart—is backing a weapons maker for the first time, betting that it could shake up the defense industry with low-cost, anti-ship missiles.
Ares Industries launched on Tuesday, promising to make missiles that can take out ships hundreds of miles away, but that are 10-fold smaller and cheaper than what’s currently available.