Anduril Secures $28 Billion Valuation in New Funding Round
Anduril, an artificial intelligence military start-up, is poised to complete a new round of funding that will double the value of the company to $28 billion, according to four people familiar with the negotiations.
Funding Details
The funding round, led by Founders Fund and not yet closed, is raising up to $2.5 billion, with Founders Fund alone planning to invest $1 billion, the largest check ever written by the firm. The funding round follows a previous raise of $1.5 billion at a $14 billion valuation six months ago.
About Anduril
Anduril designs and builds autonomous systems and weapons for the military and other government agencies, including flying drones, missiles, underwater vessels, and surveillance equipment for monitoring national borders and the battlefield. The company is one of a new wave of companies building systems based on A.I. technologies for the government.
Founders Fund Backing
Founders Fund, started by entrepreneur and investor Peter Thiel, has backed Anduril since its start in 2017. One of Anduril’s co-founders, Trae Stephens, is a partner at the firm. Thiel, who also co-founded Palantir, a military technology company, has long been a backer of Republican candidates, including President Trump in 2016 and JD Vance’s run for Senate in 2022.
Defense Technology Start-Ups
The latest influx of cash comes as defense technology start-ups are ebullient about their prospects. Enthusiasm for building technology for the U.S. military has grown in recent years in Silicon Valley, a reversal from more than a decade of shying away from those contracts. As recently as 2018, thousands of employees at Google signed a letter protesting the company’s military contracts. That resistance has slowly shifted, as more venture capital firms pour money into the sector.
Mr. Trump’s Support
Anduril’s founder, Palmer Luckey, has supported the president since his 2016 campaign. He donated to Trump’s campaigns in the 2016, 2020, and 2024 elections, and has hosted fund-raisers. Luckey posted a meme celebrating Trump’s victory on the night of the presidential election in November 2020. Elon Musk, the tech executive and a close adviser to the president, responded, saying it was “very important to open DoD/Intel to entrepreneurial companies like yours.”
Future Plans
In January, Luckey and Anduril announced plans to build a $1 billion factory in Ohio that they said would eventually produce tens of thousands of autonomous systems and weapons each year.
Conclusion
Anduril’s successful funding round reflects the growing interest in defense technology start-ups and the company’s potential to make a significant impact in the military sector. The company’s founders have strong connections to the Republican party, and its success could be seen as a boon for the party.
FAQs
Q: Who is Anduril?
A: Anduril is an artificial intelligence military start-up that designs and builds autonomous systems and weapons for the military and other government agencies.
Q: What is the new funding round valued at?
A: The funding round is valued at $28 billion, double the company’s previous valuation of $14 billion.
Q: Who is backing the funding round?
A: The funding round is led by Founders Fund, with a $1 billion investment from the firm. Other investors are expected to join the round.
Q: What kind of technology does Anduril develop?
A: Anduril develops autonomous systems and weapons, including flying drones, missiles, underwater vessels, and surveillance equipment.
