Anduril Industries to Raise $2.5B, Doubling Valuation to $28B
Defense tech startup Anduril Industries is reportedly in discussions to double its valuation to over $28 billion in a new funding round set to raise $2.5 billion. The surge in valuation follows a previous $1.5 billion funding round just months ago.
Founders Fund, a venture capital firm backed by Peter Thiel, is expected to lead the deal. Anduril's chairman, Trae Stephens, is also a partner at Founders Fund, which has been a strong supporter of defense technology startups.
Anduril is planning to establish a factory in Ohio to manufacture its autonomous weapons systems. The California-based company anticipates investing around $1 billion in the facility, which will span approximately 87 football fields.
The $28 billion valuation in Anduril's latest round excludes the new funding, valuing the company even higher post-money.