Protection tech firm Anduril is alleged to be elevating a brand new spherical of capital which will push its valuation up by a whopping $40 billion to about $100 billion, Reuters reported, citing nameless sources.
The corporate, which raised $5 billion in Could at a $61 billion valuation — itself roughly double the $30.5 billion valuation it landed in its June 2025 Sequence G spherical — could also be structuring the fundraise as a two-stage course of, with the second stage bringing in buyers at the next valuation. Each tranches might be closed inside the 12 months, Reuters reported.
The information comes because the protection tech trade experiences an unprecedented revival, spurred by demand for drones, autonomous craft, and AI’s position in warfare, as warfare rages each within the Center East and Japanese Europe. Within the first six months of the 12 months, the sector noticed enterprise funding more than double to over $12 billion, eclipsing the almost $10 billion that startups within the house raised in all of 2025.
Anduril has benefited from this demand, signing contracts with the U.S. Department of Defense, Air Force, and Army; the Dutch Ministry of Defence; NATO; the U.K. Ministry of Defence; Poland; and extra.
The corporate said in Could that it had greater than doubled its income to $2.2 billion in 2025 in comparison with a 12 months earlier.
Different startups have cashed in, too: Army plane maker Defend AI in March raised $1.5 billion, Mach Industries quadrupled its valuation to $1.8 billion final month, and Europe’s Helsing this month raised $1.8 billion at an $18 billion valuation.
A standard thread throughout these offers is a shift towards cheaper, extra expendable {hardware} — usually known as “attritable” programs — moderately than the expensive-to-replace gear that’s outlined protection contracting for many years. Mach CEO Ethan Thornton has mentioned Mach is designing programs for the current era of warfare at considerably decrease price than conventional protection contractors, citing Ukraine’s use of autonomous drones as a mannequin.
Individually, each Mach and Anduril have additionally moved to safe their very own propulsion provide. Mach acquired strong rocket motor maker Exquadrum for $50 million in Could, whereas the Pentagon has funded Anduril’s efforts to broaden home strong rocket motor manufacturing capability — strikes geared toward a provide bottleneck that predates and cuts throughout the low-cost-weapons development.
Anduril’s buyers embody Thrive Capital, Andreessen Horowitz, Founders Fund, ICONIQ, Flux Capital, Greycroft, Altimeter, 1789 Capital, and present U.S. Vice President JD Vance, in accordance with PitchBook.
Anduril didn’t instantly return a request for remark.
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