By Utkarsh Shetti (Reuters) -Defense technology startup Anduril Industries has clinched a valuation of $30.5 billion in its latest funding round where it raised $2.5 billion, the company said on Thursday. This round more than doubled the Palmer Luckey-founded company’s valuation, from $14 billion last year when it raised $1.5 billion. The development confirms a […]
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Anduril secures $30.5 billion valuation in latest fund raise
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By Utkarsh Shetti
(Reuters) -Defense technology startup Anduril Industries has clinched a valuation of $30.5 billion in its latest funding round where it raised $2.5 billion, the company said on Thursday.
This round more than doubled the Palmer Luckey-founded company’s valuation, from $14 billion last year when it raised $1.5 billion.
The development confirms a Reuters report from February, which said Anduril was in talks to raise as much as $2.5 billion, with tech billionaire Peter Thiel’s Founders Fund set to lead the round.
Anduril said on Thursday that Founders Fund made a $1 billion investment, while all other investors raised their commitments from previous rounds in the Series G fund raise.
Founders Fund has backed Anduril since its inception in 2017, and one of the company’s co-founders, Trae Stephens, is a partner at the firm.
Anduril develops solutions, including a wide range of sensors and drones, and has gained prominence in the industry amid increasing calls for low-cost autonomous defense products.
The company has also recently secured a partnership with Palantir Technologies to form a consortium that will look to jointly bid for government contracts as the Pentagon aims to reduce costs.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Mohammed Safi Shamsi)