U.S. defense technology startup Anduril plans to raise $8 billion in funding, with a valuation exceeding $60 billion

Caixin News, February 14 (Editor: Niu Zhanlin) According to the latest reports from multiple media outlets, U.S. defense technology startup Anduril is in talks to raise up to $8 billion in a new funding round, which would value the company at no less than $60 billion after the financing.

Sources familiar with the matter say this funding will provide the company with more ample capital to build its first large-scale weapons manufacturing plant and advance the development of autonomous unmanned combat aircraft projects.

Public information shows that in June last year, Anduril completed a $2.5 billion funding round, valuing the company at $30.5 billion at the time. If this round is successfully completed, its valuation will nearly double compared to the previous round.

As a defense technology startup, Anduril is developing a range of solutions including various sensors and drones. With increasing demand across sectors for low-cost autonomous defense products, as well as advancements in drone and artificial intelligence technologies, the company has quickly gained prominence in the industry.

Thanks to contracts signed with the U.S. Department of Defense and allies, the company’s revenue is expected to double to approximately $2 billion by 2025.

Against the backdrop of drones profoundly changing the battlefield in Ukraine, and with U.S. President Trump pushing the Pentagon to accelerate the adoption of cutting-edge technologies to counter military competition from other countries, Anduril has become one of Silicon Valley’s most watched defense tech investment targets.

In June last year, Anduril announced a strategic partnership with German Rheinmetall to jointly develop drones for Europe. As European countries significantly increase their defense spending, U.S. companies hope to leverage their technological expertise to capture a portion of the market in the region.

Since its founding in 2017 by Oculus founder Palmer Luckey, Anduril has been committed to disrupting the current landscape of U.S. defense contractors dominated by Lockheed Martin and Northrop Grumman.

Luckey founded Anduril after leaving Facebook. Facebook acquired Oculus in 2014 and later made virtual reality headsets a core part of its metaverse strategy.

Anduril’s chairman Trae Stephens previously stated that the company has no plans to go public in the short term. “In the long run, we believe Anduril has the potential to become a publicly traded company, but we are not in a rush. Of course, we are working on the preparations needed for a potential IPO. Right now, we are focused on our immediate mission and giving it our all.”