- Anduril raised $2.5 billion in a Series G round led by Founders Fund, doubling its valuation to $30.5 billion.
- The company’s revenue doubled to $1 billion in 2024, boosted by the U.S. Army’s $22 billion AR/VR headset contract.
- Anduril aims to disrupt defence tech with AI-powered autonomous systems and plans a future IPO.
Anduril Industries, a leading defence technology startup specialising in autonomous weapons and AI-powered systems, has closed a $2.5 billion funding round, led by Founders Fund with a $1 billion investment—the largest check the venture firm has ever written.
This Series G round more than doubles Anduril’s valuation from $14 billion last year to $30.5 billion.
The funding round was over eight times oversubscribed, reflecting strong investor demand.
Anduril’s revenue doubled in 2024, reaching approximately $1 billion, driven by the growing adoption of its autonomous drones, battle management software, and augmented reality (AR) headsets for military use.
A significant tailwind for Anduril is its recent award of the U.S. Army’s $22 billion Integrated Visual Augmentation System (IVAS) contract, previously held by Microsoft.
Anduril now oversees the development and production of AR/VR headsets for soldiers, collaborating with Meta on device creation. This contract marks a major milestone, underscoring Anduril’s rising influence in national security technology.
Founded in 2017 by Silicon Valley veterans, including Oculus founder Palmer Luckey and Founders Fund partner Trae Stephens (Anduril’s executive chair), the company aims to disrupt traditional defence contractors by accelerating innovation with AI-first systems.
Trae Stephens emphasised the company’s focus on addressing manufacturing challenges and transforming the defence industry.
While Anduril is not currently pursuing an IPO, it remains committed to becoming a publicly traded company in the medium term.
Edited by Annette George
