Defense-tech startup Anduril has signed a term sheet to raise up to $2.5 billion, valuing the company at $28 billion. This marks a significant increase from its August valuation of $14 billion.
Anduril aims to disrupt traditional defense contractors by developing its own products and selling them directly to clients. The company plans to utilize artificial intelligence (AI) systems developed through partnerships, such as its recent collaboration with OpenAI.
Founder Palmer Luckey, who previously sold Oculus for $2 billion, has been a strong supporter of Donald Trump since 2016. Anduril’s latest funding round is led by Peter Thiel’s Founders Fund, which has committed $1 billion.
The company reported revenue growth in 2024, with annual contract value reaching $1.5 billion and doubling to about $1 billion. Anduril’s new drones launched in 2023 utilize its Lattice AI-powered command and control software used by the US military and allies.
Source: https://www.cnbc.com/2025/02/07/anduril-in-talks-to-raise-money-at-28-billion-valuation.html