Anduril Industries valued at $14 billion after $1.5 billion Series F

Anduril Industries has equaled its own record by raising the largest amount in history for the purchase of defense technology.

The Costa Mesa, California-based startup has raised $1.5 billion in a Series F round, valuing the company at $14 billion — up 69% from the $8.5 valuation it achieved after its massive $1.5 billion Series E round in late 2022.

The round was co-led by Founders Fund and Sands Capital. The round was joined by new investors Fidelity Management & Research Co., Counterpoint Global and Baillie Gifford, as well as existing investors including Altimeter Capital and Franklin Venture Partners.

The company will allocate a portion of the new revenue to the development of Arsenal-1, a 4.5 million square meter manufacturing facility designed to produce tens of thousands of autonomous military systems annually.

The role of defense technologies

After a weak start to the year, funding for defense tech startups has surged over the past few months.

Just last month, Helsing, which develops AI-based software for defense, raised about $489 million in funding led by General Catalyst that values ​​the company at $5.4 billion. The German startup designs software that helps enhance the weaponization capabilities of drones and fighter jets and improves decision-making on the battlefield.

After Anduril’s massive round, defense tech startups have now raised $2.5 billion, according to Crunchbase data. Last year, such startups raised just $2 billion combined.

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Illustration: House of Guzman