Anduril Raises $1.48 Billion in Series E Funding
Costa Mesa, Calif. (Dec. 2, 2022) — Defense technology company Anduril Industries today announced $1.48 billion in Series E funding, valuing the company at $8.48 billion, nearly doubling the company’s previous valuation in June 2021.
The new funding will enable Anduril to accelerate research and development to bring new, cutting edge, autonomous defense capabilities to the market and continue to mature and scale its current business lines with the US Department of Defense as well as US allies and partners.
The funding round was led by Valor Equity Partners, a longtime Anduril investor, with participation from Founders Fund, Andreessen Horowitz, General Catalyst, 8VC, Lux Capital, Thrive Capital, DFJ Growth, Elad Gil, Lachy Groom, Human Capital, Marlinspike, WCM Investment Management, MVP Ventures, Lightspeed Ventures and Thomas Tull’s newly minted US Innovative Technology Fund (USIT).
The paradigm of war is evolving. Emerging technologies — like artificial intelligence, autonomy, machine learning — are forcing a shift in the way wars are initiated, waged, resolved, and deterred. These changes will provide asymmetric advantages to nations that invest in modern technology.
The problems US and allied militaries are facing are fundamentally software problems. To continue to enable the US, allies and partners to deter adversaries, Anduril is building software-defined and hardware-enabled capabilities that solve mission needs with autonomy, today. Autonomous systems will enable the military to operate faster and at greater scale across both tactical and strategic operations.
“Anduril is a technology partner, not an equipment provider,” said Brian Schimpf. “Security threats are evolving faster than the DOD can keep pace. In order to really outmaneuver emerging threats we need to move past just efficiencies and create clear step changes in capability, quickly. Anduril has proven that that our model — recruiting talented engineers, building quickly and efficiently using venture dollars, and selling next-generation technology off the shelf to the government — works. And that with the right technology and incentives the government can be a nimble customer.”
“Anduril has made incredible progress delivering on its mission to transform US and allied national security capabilities with advanced technology. Since its founding five years ago, Anduril has designed, built and fielded innovative capabilities at scale, at unprecedented speed,” said Antonio Gracias, Founder, Chief Executive Officer & Chief Investment Partner, Valor Equity Partners. “Anduril has a massive opportunity to create even more impact for the US and its allies, and we grow more confident in its mission with every opportunity to invest. Valor is excited to continue supporting the company operationally and financially as the business grows and scales.”
In the last twelve months, Anduril reached significant milestones including:
- Closed a 10-year $967M contract to be U.S. Special Operations Command’s Systems Integration Partner (SIP) for counter-UAS (cUAS) technology.
- Acquired Dive Technologies, a pioneer in autonomous underwater vehicles (AUVs), expanding Anduril’s suite of autonomous systems and extending its unmanned capabilities to the undersea domain.
- Expanded to Australia, with an independent entity, Anduril Australia headquartered in Sydney to advance and grow a broad Australian industrial network and develop advanced defense technologies in partnership with the Australian Defence Force and Australian government. Signed a $100M contract for a co-funded design, development and manufacturing program for Extra Large Autonomous Undersea Vehicles (XL-AUVs) with the Royal Australian Navy.
- Nearly doubled the team size, from 700 at the start of 2022 to more than 1100 employees today.
- Launched three new products representing leap-ahead advancements in military operations, surveillance, and munitions across air, land and sea.
- ALTIUS 600M: ALTIUS Loitering Munition (M) delivers twice the loitering time and range of current market offerings and leverages autonomy to enable a single operator to control multiple assets simultaneously.
- Menace: a first-of-its-kind integrated, expeditionary, secure, command, control, communications and computing (C4) platform, giving warfighters the ability to rapidly plan and execute missions at geographically dispersed and austere locations.
- Mobile Sentry: a ruggedized, mobile platform that uses artificial intelligence for highly accurate, persistent autonomous ground or air awareness, leveraging AI-enabled edge processing, continuous 360 monitoring and a variety of radars and sensors to autonomously identify, detect and track objects of interest in a given environment.
About Anduril Industries
Anduril Industries is a defense technology company with a mission to transform U.S. and allied military capabilities with advanced technology. By bringing the expertise, technology, and business model of the 21st century’s most innovative companies to the defense industry, Anduril is changing how military systems are designed, built and sold. Anduril’s family of systems is powered by Lattice OS, an AI-powered operating system that turns thousands of data streams into a realtime, 3D command and control center. As the world enters an era of strategic competition, Anduril is committed to bringing cutting-edge AI, computer vision, sensor fusion and networking technology to the military in months, not years. For more information, visit www.anduril.com
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