Anduril Raises US$2.5 Billion, Doubles Valuation

Defense technology company Anduril Industries has secured US$2.5 billion in a Series G funding round led by Founders Fund, doubling its valuation to US$30.5 billion. The round includes a US$1 billion investment from Founders Fund, the largest individual check the company has received to date.

"The round was more than eight times oversubscribed, indicating the market’s confidence in the scalability of our autonomous systems and software," says Trae Stephens, Executive Chair and Co-Founder, Anduril Industries.

Anduril Industries, founded in 2017 by Palmer Luckey, develops autonomous defense platforms, including drones, sensor arrays, and AI-powered software. The new funding follows a year of significant growth in which the company reported a twofold increase in annual revenue to about US$1 billion.

As geopolitical tensions rise and governments increase budgets for modernized defense infrastructure, Anduril Industries has positioned itself as a key contractor. The company recently replaced Microsoft as the primary vendor for the US Army’s augmented reality and virtual reality headset program, a project with an estimated total value of US$22 billion.

Reuters reported in February that Anduril was in negotiations to raise as much as US$2.5 billion. The Series G round included increased contributions from all existing investors.

In addition to the US Army contract, Anduril Industries recently announced a partnership with Palantir Technologies to form a consortium focused on joint bids for US Department of Defense contracts. This collaboration aims to optimize government procurement through reduced costs and greater technological interoperability.

Anduril Industries’ continued association with Founders Fund, which has backed the company since its inception, has played a strategic role in supporting its expansion into key government programs. According to TechCrunch, Anduril Industries’ oversubscribed round underscores both its technological relevance and financial viability. The company’s business model, built around modular defense platforms, autonomous command and control, and software-defined systems, has increasingly met requirements for adaptive and scalable solutions across multiple domains, including land, sea, and air.

The recent funding will support further R&D, hiring, and potential new contracts with allied governments. As defense procurement shifts toward rapid-cycle innovation and lifecycle cost reductions, Anduril Industries is expected to expand its presence in the United States and allied markets through scalable offerings and integrated system design.

Anduril Industries’ latest valuation places it among the highest-valued private defense technology companies globally, signaling a shift in how capital markets view dual-use technologies and national security infrastructure.