Epirus, a defense technology startup, announced on Wednesday that it has successfully raised $250 million in a Series D funding round. The company plans to use the fresh capital to expand the production of its anti-drone weapons systems. Epirus did not reveal its valuation for this funding round.
The significant investment arrives amidst a surge in demand for effective defense solutions, particularly in response to global events. Epirus secured a $66 million contract in 2023 to provide its flagship product, Leonidas, to the U.S. Army, showcasing the growing interest in its technology.
Based in Torrance, California, Epirus is one of several aerospace companies developing innovative weapons to counter unmanned aerial vehicles (UAVs), including systems that utilize lasers and microwaves. The oversubscribed funding round was jointly led by venture capital firm 8VC and Washington Harbour Partners LP, an investment firm located in Washington, D.C. General Dynamics Land Systems, the tank manufacturing division of U.S. defense giant General Dynamics, also participated in the round.
This latest funding brings Epirus’ total funding to over $550 million. The company intends to allocate the new funds to expand into international and commercial markets, strengthen its supply chain, and grow its workforce. Furthermore, Epirus is set to open a new simulation center in Oklahoma, providing training for soldiers in counter-drone warfare strategies.
