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Anduril Industries has raised $5 billion in a Series H funding round, lifting its valuation to $61 billion. The US defense technology start-up announced the financing on Wednesday after being valued at $30.5 billion in June 2025.
The round was led by Thrive Capital and Andreessen Horowitz. The latest raise brings Anduril’s total funding to about $6.82 billion across eight rounds, with investors including Founders Fund and Lux Capital.
Anduril’s new funding round comes after earlier reports in March said the company was seeking about $4 billion from Thrive Capital and Andreessen Horowitz. The final raise reached $5 billion, doubling the company’s valuation from its previous round.
The California-based company remains private, though the latest financing comes amid market talk about a possible public listing in the next year. Anduril has not announced an official IPO plan.
The company has used private capital to expand production, hire more workers, and build defense systems for US and allied military customers. It also opened a $1 billion factory in Ohio to increase output of its weapons systems.
Anduril said it more than doubled its revenue to $2.2 billion in 2025. The defense technology start-up company also said it nearly doubled its workforce over the past year.
In a letter released with the funding announcement, Chief Executive Brian Schimpf said Anduril “nearly doubled our work force, won and delivered on our first international program of record to the Royal Australian Navy and demonstrated autonomous flight on an Air Force unmanned combat aircraft program, among many other milestones.”
Schimpf also said, “The convergence of artificial intelligence, autonomy and advanced sensing is reshaping warfare.” However, Anduril’s full financial records are not public because the company is privately held.
Anduril develops defense technology products that include sensors, drones, autonomous submarines, pilotless aircraft, weaponized drones, and augmented reality helmets. The company first built border surveillance software for the US government before expanding into military hardware and AI-backed systems.
Founded in 2017 by Palmer Luckey and other technology executives, Anduril is based south of Los Angeles. The company has gained attention as military customers seek lower-cost autonomous systems and faster defense production.
After Russia invaded Ukraine in 2022, Anduril began testing AI-backed drones on the battlefield. It has since expanded its range of pilotless aircraft and autonomous defense products.
In March, Anduril signed a 10-year, $20 billion deal with the US Army for software products and AI-backed weapons. The same month, the company said it was part of a consortium building Golden Dome, a $185 billion space-interceptor missile system for the US government.
Anduril also delivered its first international program of record to the Royal Australian Navy. In addition, the company demonstrated autonomous flight under a US Air Force unmanned combat aircraft program.
Defense technology companies have attracted more investor interest as governments increase spending on autonomous systems, drones, sensors, and AI-backed military tools. Abundant private capital has also allowed companies such as Anduril to raise larger rounds while staying private for longer.
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