Despite the challenges faced by defense tech startups, including long sales cycles and potential moral objections from investors, Anduril has secured significant funding in the past. The company raised nearly $1.5 billion in a Series E round last December, almost doubling its valuation to $8.5 billion. It has also secured a 10-year, $967 million contract with the U.S. Special Operations Command. However, the firm has faced criticism for potentially enabling border security policies and government surveillance.
Key takeaways:
- Defense and security firm Anduril is seeking to raise between $400 million and $500 million from investors, potentially through a convertible note, aiming for a $10 billion valuation.
- The company recently acquired autonomous aircraft developer Blue Force Technologies and the new funds could be used for similar acquisitions.
- Anduril was founded by Palmer Luckey, who sold his virtual reality company Oculus to Meta for $2 billion. The firm develops AI and machine learning-enhanced software and hardware for the military and defense industry.
- Despite securing a 10-year, $967 million contract with the U.S. Special Operations Command, Anduril has faced criticism for potentially enabling border security policies and government surveillance.