Defense technology startup Anduril Industries has raised $2.5 billion in a Series G funding round, more than doubling its valuation to $30.5 billion post-money, according to Trae Stephens, the company’s chairman. The funding was led by Founders Fund, a venture firm where Stephens is also a partner.
Funding Details
Founders Fund contributed $1 billion to the latest financing, marking the largest investment the firm has ever made in a single company. Other investors participating in the round included General Catalyst, Andreessen Horowitz, Valor Equity Partners, BlackRock, and Lightspeed Venture Partners. This brings Anduril’s total funding since its inception in 2017 to over $6 billion.

Strategic Importance
The significant investment is seen as a vote of confidence in Anduril’s capabilities, particularly in the defense technology sector. Stephens emphasized the importance of strengthening the company’s balance sheet to tackle manufacturing and production challenges. The funding comes at a time when defense tech is gaining traction among investors, with total venture capital funding in the sector reaching $3 billion across 102 deals in the previous year.
Background and Recent Developments
Anduril was founded by Palmer Luckey after his departure from Meta, the company that acquired his previous startup, Oculus. Interestingly, Anduril has since collaborated with Meta on a project to develop extended reality devices for the U.S. military. This partnership was announced on May 29, indicating a positive development in their relationship despite Luckey’s controversial exit from Meta.
Industry Impact
The defense tech sector has seen a notable increase in investment, with Anduril’s funding round alone almost matching the total amount raised by defense tech startups in the previous year. This trend suggests a significant bump in funding for the sector in the current year. As defense technology continues to evolve, companies like Anduril are at the forefront, leveraging advanced technologies to address complex challenges.