Defense tech firm Anduril Industries secures $1.4bn in Series E money

Defense technology Anduril Industries announced raising $1.48 billion in Series E funding led by Valor Equity Partners, a longtime investor in the company.

Founders Fund, Andreessen Horowitz, General Catalyst, 8VC, Lux Capital, Thrive Capital, DFJ Growth, Elad Gil, Lachy Groom, Human Capital, Marlinspike, WCM Investment Management, MVP Ventures, Lightspeed Ventures, and Thomas Tull’s newly minted US Innovative Technology Fund (USIT).

The new funding will enable Anduril to accelerate research and development to bring new, cutting edge, autonomous defense capabilities to the market and continue to mature and scale its current business lines with the US Department of Defense as well as US allies and partners.

The Series E funding valued the company at $8.48 billion, nearly doubling the company’s previous valuation in June 2021.

Anduril Industries is a defense technology company with a mission to transform U.S. and allied military capabilities with advanced technology.

By bringing the expertise, technology, and business model of the 21st century’s most innovative companies to the defense industry, Anduril is changing how military systems are designed, built and sold.

“Anduril is a technology partner, not an equipment provider,” said Brian Schimpf.

“Security threats are evolving faster than the DOD can keep pace. In order to really outmaneuver emerging threats we need to move past just efficiencies and create clear step changes in capability, quickly. Anduril has proven that that our model — recruiting talented engineers, building quickly and efficiently using venture dollars, and selling next-generation technology off the shelf to the government — works. And that with the right technology and incentives the government can be a nimble customer.”

Among its milestones in the last 12 months include closing a 10-year $967 million contract to be US Special Operations Command’s Systems Integration Partner (SIP) for counter-UAS (cUAS) technology; acquiriing Dive Technologies, a pioneer in autonomous underwater vehicles (AUVs), expanding Anduril’s suite of autonomous systems and extending its unmanned capabilities to the undersea domain; and expanding to Australia, with an independent entity, Anduril Australia headquartered in Sydney to advance and grow a broad Australian industrial network and develop advanced defense technologies in partnership with the Australian Defence Force and Australian government.