Defense technology startup Anduril Industries has secured a significant new investment, raising $2.5 billion in its latest funding round led by Founders Fund. The venture capital firm itself contributed $1 billion, marking the largest single investment Founders Fund has ever made. This substantial financing lifts Anduril’s valuation to an impressive $30.5 billion, effectively doubling its previous worth.
An Anduril representative noted the round was extraordinarily competitive, oversubscribed by more than eight times, indicating intense investor demand that far exceeded the available shares.
Anduril Industries specializes in autonomous defense systems and the advanced software platforms needed to manage them. The new capital injection comes on the heels of a remarkable growth period: the company saw revenue spike last year to approximately $1 billion, achieving a nearly two-fold increase.
A significant driver of recent investor enthusiasm has been Anduril’s major contract win from the U.S. Army to develop augmented and virtual reality headsets for troops—a project initially assigned to Microsoft with a budget estimated at $22 billion. This prestigious contract was reassigned to Anduril in February, providing a substantial boost to the company’s credibility and market position. In a notable recent development tied to the AR/VR initiative, Anduril founder Palmer Luckey publicly reconciled with his former employer, Meta, announcing a newfound partnership to jointly pursue device development for the military contract.
Anduril executive chairman and co-founder Trae Stephens publicly confirmed the fundraising during a televised interview earlier today.
