Epirus, a defense technology company specializing in high-power microwave technology, has secured a $250 million Series D funding round. The investment was led by 8VC and Washington Harbour Partners, marking the latest instance of substantial funding flowing into the defense tech sector.
Based in Los Angeles, Epirus focuses on developing technology to counter drones, drone swarms, and other electronic threats. This new funding round also included a strategic investment from General Dynamics Land Systems. Founded in 2018, Epirus did not disclose a valuation after this latest round, but the company has confirmed that it has raised more than $550 million in total.
Epirus plans to utilize the raised capital to broaden its reach into international and commercial markets while simultaneously expanding its workforce. “With our capital and talent and the right partnerships with US DoD to continue to advance Epirus’ technology, it will quickly become critical for defending aircraft, ships and even satellites and space-based platforms—and determinative for the future of warfare,” said Joe Lonsdale, the founder of Epirus and a managing partner at 8VC.
This significant investment in Epirus is reflective of the broader trend of increased capital investment in defense technology. According to Crunchbase data, funding for venture capital-backed startups in the defense sector, encompassing military, national security, and law enforcement industries, reached $3 billion. This represents an 11% increase compared to the $2.7 billion raised in 2023. Recently, Saronic, a maker of autonomous surface vessels, secured a $600 million Series C round led by Elad Gil, valuing the startup at $4 billion. The Austin, Texas-based company designs and manufactures autonomous surface vehicles designed for the U.S. Navy.
