Anduril Secures $2.5 Billion in Series G, Valuation Reaches $30.5 Billion
Defense technology startup Anduril has raised $2.5 billion in a Series G funding round, pushing its valuation to an impressive $30.5 billion. Founders Fund led the round with a significant $1 billion investment, the largest check the firm has ever written. Existing investors also participated in the heavily oversubscribed round, with demand exceeding supply by over eight times.
Record Funding Follows Revenue Growth and Key Contract Win
This substantial investment comes on the heels of Anduril doubling its revenue to approximately $1 billion in 2024. The company develops autonomous weapons systems and the software to control them. A key driver of this growth is the U.S. Army's contract awarded to Anduril for developing augmented reality/virtual reality (AR/VR) headsets for soldiers. Originally granted to Microsoft with a $22 billion budget, the contract was reassigned to Anduril in February.
The significance of this contract led Anduril founder Palmer Luckey to publicly mend fences with his former employer, Meta, as the two companies recently announced a partnership to develop devices for the project.
Anduril executive chair and co-founder Trae Stephens, also a partner at Founders Fund, disclosed the funding round in an interview on Bloomberg Television. Read more about the announcement.
