Anduril, the defense technology company founded by Palmer Luckey, has secured a term sheet to raise capital at a valuation of $28 billion. The company is set to raise up to $2.5 billion in its latest funding round, doubling its valuation from just a few months ago.
Anduril is known for challenging traditional defense contractors by independently developing advanced military technology rather than following the conventional contract-first approach. The company, founded in 2017, has positioned itself as a key player in defense innovation, integrating artificial intelligence with autonomous systems to enhance national security capabilities.
In December, Anduril announced a strategic partnership with OpenAI, granting the company access to AI-powered systems for national security applications. This move reflects a broader shift among AI firms, which are increasingly engaging with military and defense sectors despite previous hesitations. Other AI firms, such as Anthropic and Palantir, have also entered into agreements to support intelligence and defense agencies.
Anduril’s financial performance has been impressive, with its revenue doubling to approximately $1 billion in 2024. The company’s annual contract value has reached $1.5 billion, reflecting its growing influence within the defense industry. Its innovative drone technology and Lattice AI-powered command software have become essential assets for the U.S. military and allied nations, enabling autonomous and human-assisted robotic systems to execute complex missions.
The latest financing round is being led by Founders Fund, which has committed $1 billion, marking the largest single investment in the firm’s history. The fund’s involvement further solidifies Anduril’s status as a major force in defense technology.
Anduril remains privately held, but its rapid expansion and increasing government contracts make it one of the most watched companies in the industry. With its cutting-edge AI integration and autonomous defense solutions, the company continues to shape the future of military technology.
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