Defense Tech Startup Anduril Industries Eyes $28B Valuation in Funding Round
Palo Alto-based Anduril Industries Inc., a leading defense technology company, is reportedly in negotiations to secure $2.5 billion in a new funding round, which would double its valuation to over $28 billion.
Sources close to the matter indicate that Founders Fund, a venture capital firm led by prominent billionaire Peter Thiel, will spearhead the investment. Anduril and Founders Fund representatives have declined to comment on the ongoing discussions.
This surge in valuation follows Anduril's successful $1.5 billion funding round just a few months ago. The company's chairman, Trae Stephens, is also a partner at Founders Fund, which has consistently backed defense technology startups.
Stephens has advised President Donald Trump on the modernization of the US military. Venture-capital-funded startups have advocated for revamping the Pentagon's procurement process to integrate cutting-edge technologies.
Anduril plans to establish a factory in Ohio to manufacture its autonomous weapons systems. The California-based company aims to invest almost $1 billion in the state-of-the-art facility, which will span approximately 87 football fields.
The $28 billion valuation does not include the latest funding, the source revealed. Consequently, Anduril's "post-money valuation" will be even higher, making it one of the most valuable defense startups in the industry.