Defense tech startup Anduril is on a roll — and it just raised a staggering $2.5 billion in fresh funding, doubling its valuation to $30.5 billion.
The round was led by Founders Fund, which poured in $1 billion — its largest investment to date. Existing investors eagerly joined in, and according to an Anduril spokesperson, the round was a hot ticket — over 8x oversubscribed. In other words, many more investors wanted a piece of Anduril than the company was willing to sell.
Business Is Booming
Founded by tech entrepreneur Palmer Luckey, Anduril builds autonomous weapons and advanced software to power them. The company’s growth trajectory has been steep — revenue doubled in 2024, hitting around $1 billion.
A big part of that success? The U.S. Army recently handed Anduril a massive contract to develop new AR/VR headsets for soldiers — a project originally awarded to Microsoft under a $22 billion budget. In a twist earlier this year, the Army reassigned the contract to Anduril in February.
A Partnership Forged from Rivalry
The headset deal was significant enough to inspire a public gesture from Luckey himself. Last week, he surprised many by forgiving Meta — his former employer — as the two companies announced a new partnership to develop devices for the Army project.
Founders Fund’s Bold Bet
Trae Stephens, Anduril’s executive chair and co-founder — who also happens to be a Founders Fund partner — revealed the new funding in a recent interview. The $1 billion check reflects Founders Fund’s growing confidence in Anduril’s mission and potential.
With this latest raise, Anduril is firmly cementing its place as a key player in the defense tech space — and all signs point to even bigger things ahead.
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