Anduril Secures $2.5 Billion at $30.5 Billion Valuation
Defense tech company Anduril raises a massive $2.5 billion Series G round led by Founders Fund, doubling its valuation to $30.5 billion after hitting $1 billion in annual revenue.
Founders Fund leads a massive $2.5 billion Series G funding round for defense technology startup Anduril, contributing a $1 billion check that marks the firm's largest ever. The new investment doubles Anduril's valuation to $30.5 billion and attracts heavy interest from existing investors, with the round being over eight times oversubscribed.
This massive influx of capital follows a year of significant growth for the autonomous weapons manufacturer, as the company doubles its 2024 revenue to approximately $1 billion. Anduril also benefits from a major tailwind after securing a lucrative U.S. Army contract to develop AR/VR headsets for soldiers, a project originally awarded to Microsoft with a $22 billion budget.
The Army contract even prompts Anduril founder Palmer Luckey to publicly forgive his former employer Meta, leading to a new partnership between the two companies to build the required devices. Executive chair and co-founder Trae Stephens, who also serves as a Founders Fund partner, officially discloses the historic funding during an interview on Bloomberg Television.