Defense startup Anduril takes its valuation to $8.48 billion after a billion-dollar investment

• ByStartupStory     |    December 3, 2022

Anduril Industries  has received a $1.48 billion funding boost, raising the value of the defense technology company to $8.48 billion. Palmer Luckey, who helped design the virtual reality set Oculus Rift, opened Irvine, California-based Anduril in 2017. The company’s specialty lies in software development and artificial intelligence.

This latest funding in a “Series E ” round has helped in “nearly doubling the company’s previous valuation in June 2021,” the company said in a statement. Startups go through different rounds of funding. Series A money is meant to help pay employees, help in the optimization of a startup’s products, and develop a marketing strategy. If a company survives a period of six months to two years with that early funding, it can then try to get Series B funding and the funding rounds continue like this.

“The new funding will enable Anduril to accelerate research and development to bring new, cutting edge, autonomous defense capabilities to the market and continue to mature and scale its current business lines with the U.S. Department of Defense as well as U.S. allies and partners,” the company said.

“Anduril is building software-defined and hardware-enabled capabilities that solve mission needs with autonomy, today. Autonomous systems will enable the military to operate faster and at greater scale across both tactical and strategic operations.”

The funding was led by Valor Equity Partners, which previously invested in Anduril, with participation from Founders Fund, Andreessen Horowitz, General Catalyst, 8VC, Lux Capital, Thrive Capital, DFJ Growth, Elad Gil, Lachy Groom, Human Capital, Marlinspike, WCM Investment Management, MVP Ventures, Lightspeed Ventures and the US Innovative Technology Fund.

Anduril won a $1 billion contract in January from U.S. Special Operations Command to lead its counter-drone systems integration work. And it’s part of a team led by American Rheinmetall Vehicles that are competing to build a replacement for the U.S. Army’s Bradley infantry fighting vehicle.

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