Anduril Industries Seeks $2.5B Investment, Aiming for $28B Valuation

Anduril Industries, the defense technology startup founded by Palmer Luckey, is in discussions for a new funding round that could push its valuation to $28 billion, according to sources. The company, known for its AI-powered defense solutions, is reportedly aiming to raise $2.5 billion in the upcoming round.

Just six months after securing a $1.5 billion investment at a $14 billion valuation, Anduril is now seeking an increase in its worth. If successful, this new round would mark a major milestone for the company as it continues expanding its defense technology footprint.

Peter Thiel’s Founders Fund is expected to lead the new funding round, potentially worth up to $2.5 billion, which would be the largest check the firm has ever written, sources said. Founders Fund has been a key backer of Anduril since its inception in 2017, leading its seed round and co-leading the company’s 2024 financing. Trae Stephens, a partner at Founders Fund, is also one of Anduril’s co-founders. 

The funding deal comes just months after Anduril raised $1.5 billion in August at a $14 billion valuation. This new round, if successful, would boost the company’s valuation. Founders Fund declined to comment on the latest round, with CNBC having initially reported on the talks.

Headquartered in Costa Mesa, California, Anduril is known for developing autonomous defense solutions across various sensors, including drones. The company has made strides in advancing its AI capabilities with the launch of Lattice for Mission Autonomy in 2023. This software enables autonomous systems to work together during missions under human supervision. 

In addition to its ongoing technology development, Anduril is expanding its manufacturing capabilities. Last month, the company announced plans to build a large-scale weapons plant in central Ohio. 

Palmer Luckey, the founder of Anduril, is also known for creating Oculus VR, which Facebook acquired for $2.3 billion in 2014. The company has been rapidly expanding, with its latest funding round aimed at supporting a $1 billion weapons mega factory in Ohio. The facility, expected to cover an area equivalent to 87 football fields, will enhance Anduril’s production of autonomous defense systems. Sources also revealed that Anduril’s revenue doubled to $1 billion in 2024, though the company declined to comment further.

Anduril has drawn interest from influential investors, including U.S. Vice President JD Vance, who invested in the company during his venture capital career and still holds stakes, according to filings. 

Peter Thiel, co-founder of Palantir and a key backer of Anduril, has a long history of supporting defense technology ventures and has been a prominent Republican donor. The company’s latest $28 billion valuation does not yet factor in the new funding round, meaning its post-money valuation will be even higher.