Anduril Industries Inc., a defense technology startup has secured funding of $1.48 billion. The round of funding, led by Valor Equity Partners, valued Anduril at $8.48 billion.
Palmer Luckey, the founder of Oculus VR Inc., founded Anduril Industries Inc. in 2017 as a defence technology firm. Since then, the company has raised $1.48 billion in funding.
The value of Anduril is $8.48 billion in the Series E funding round that was headed by Valor Equity Partners. More than a dozen more investors, including Lightspeed Ventures, General Catalyst, Founders Fund, and Andreessen Horowitz, joined it.
In May, news of Anduril’s most recent investment round initially surfaced. Previously, the business completed a $450 million Series D investment round in June of last year.
Anduril has received $1.9 billion in investment money since its debut.
Palmer Luckey, who founded virtual reality headset maker, Oculus VR, introduced Anduril in 2017.
For $2 billion, Meta Platforms Inc., formerly Facebook Inc., purchased it in 2014. Later, the technology that Meta acquired was incorporated into its metaverse division, which produces virtual reality headsets and accompanying software.
The business creates defensive systems for the United States and its allies. According to reports, it produces everything from drones to monitoring towers.
Additionally, it offers for sale Lattice, a software platform that can gather sensor data from various defence systems and make it accessible to military personnel via a centralised interface.
A key area of focus for Anduril is the software industry. The majority of its engineers, are employed by its Lattice platform.
By purchasing Dive Technologies Inc., a startup specialising in the development of autonomous underwater vehicles, in February, the business widened its emphasis to include navy boats.
A $100 million contract to create three prototype robot submarines for the Royal Australian Navy was awarded to it a few months later. Since its debut, Anduril has also been awarded numerous more defence contracts.
According to reports, the firm was awarded a nearly $1 billion contract in January to supply the U.S. Special Operations Command with hardware and software for counter-drone operations. Additionally, the Defense Innovation Unit of the American Defense Department has acquired Anduril’s anti-drone technology.
Anduril’s annual income is “hundreds of millions of dollars.” According to reports, the business collaborates with a number of U.S. military branches as well as a dozen allies.
After the $1.725 billion investment that SpaceX Corp. reportedly concluded in May, Anduril’s most recent $1.48 billion financing is the second highest funding of the year.
According to this investment, SpaceX was worth about $127 billion. Also in May, SpaceX staged a secondary sale in which current shareholders and staff members could sell shares for up to $750 million.
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