Anduril Industries, a defense technology start-up, announced a significant milestone on Wednesday, raising $1.5 billion in its Series F funding round. This latest capital influx has elevated the company’s valuation to $14 billion, marking a substantial increase from its previous $8.5 billion valuation following a Series E round in 2022.
The Series F round was co-led by Founders Fund and Sands Capital, with participation from new investors Fidelity Management & Research Company, Counterpoint Global, and Baillie Gifford. To date, Anduril has secured more than $3.7 billion in total funding.
Anduril intends to utilize the newly raised funds to expand its workforce, enhance infrastructure, and strengthen supply chain operations. Additionally, the company plans to invest in its manufacturing platform, Arsenal, which will support the construction of “Arsenal-1,” a 500,000-square-foot factory designed to produce tens of thousands of autonomous military systems annually.
Founded in 2017, Anduril has positioned itself as a disruptive force within the defense industry, challenging established contractors like Lockheed Martin, Raytheon, and Northrop Grumman. The company distinguishes itself by developing products in-house before selling them to clients, bypassing the traditional contract-first, build-later model typical of military procurement.
In 2023, Anduril introduced several new drones equipped with its Lattice AI-powered command and control software, currently employed by the U.S. military and allied forces to coordinate human-assisted robotic systems for complex missions.
The company’s focus on improving the manufacturing of autonomous weapons systems is particularly timely. The ongoing conflict in Ukraine has highlighted vulnerabilities in the United States’ defense production capabilities, with Anduril citing slow production rates, rigid processes, and the reliance on custom, defense-specific systems as obstacles to rapid response. Lead times for replenishing critical weapons and munitions currently average two years.
Anduril CEO Brian Schimpf emphasized the importance of these advancements during a May appearance on “Closing Bell: Overtime,” stating, “These lower-cost, higher volume, smarter systems — we believe that’s going to determine the nations who are successful going forward.”
Featured Image courtesy of Anduril Blog
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