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Anduril in Negotiations for $2.5 Billion Fundraise at $28 Billion Valuation Amid Surge in Defense-Tech Demand

Prime Highlights:

Anduril is negotiating to raise up to $2.5 billion at a $28 billion valuation, doubling its value from August 2024.

The startup aims to challenge traditional defense contractors like Lockheed Martin and Raytheon by directly developing and selling its own products.

Key Background:

Anduril, a leading defense technology startup, has entered into negotiations to raise up to $2.5 billion in funding, with a projected valuation of $28 billion, according to sources familiar with the matter. This valuation represents a significant leap from the company’s $14 billion valuation in August 2024. The planned round of funding underscores the growing interest in defense technology, a sector that has seen considerable expansion amid global security concerns.

Founded by Palmer Luckey, the entrepreneur behind Oculus (acquired by Meta for $2 billion), Anduril aims to disrupt traditional defense contractors like Lockheed Martin and Raytheon. The company stands apart by developing and directly selling its own innovative defense products, bypassing the lengthy contracting process that often defines conventional defense procurement. As of 2024, Notably, Luckey has been an outspoken supporter of former President Donald Trump, a stance that has shaped some of the company’s public identity. Since its founding in 2017, Anduril has positioned itself as a forward-thinking, non-partisan entity dedicated to strengthening U.S. military capabilities, particularly through the integration of advanced technologies.

A recent partnership with artificial intelligence leader OpenAI is part of Anduril’s strategy to integrate cutting-edge AI systems into national security operations. This collaboration signals the company’s increasing influence in defense sectors and reflects a broader trend of AI firms easing restrictions on military applications. Similar agreements have been made by companies like Palantir and Anthropic, highlighting the evolving relationship between tech and defense industries.

The latest funding round, with significant backing from Peter Thiel’s Founders Fund—investing $1 billion—further underscores the high-profile nature of Anduril’s ascent. In 2024, the company doubled its revenue to approximately $1 billion, and its annual contract value surged to $1.5 billion. The recent launches of AI-powered drones have further cemented Anduril’s reputation as an innovative force in the defense technology landscape.