Founders Fund has led another, enormous round for defense tech startup Anduril with a $1 billion investment as part of a new $2.5 billion raise, the largest check the firm has ever written. Existing investors also piled in, an Anduril spokesperson tells TechCrunch.
Anduril has now doubled its valuation to $30.5 billion with this Series G raise. The spokesperson says the round was over 8x times oversubscribed, meaning many more investors wanted to buy than the amount of stock Anduril was selling.
Anduril, which makes autonomous weapons and software to control them, says the new funding was raised after the company doubled its revenue in 2024 to about $1 billion.
The company is also enjoying a tailwind from being granted the U.S. Army’s enormous contract for developing new AR/VR headsets for soldiers. The contract was originally granted to Microsoft with a total $22 billion budget but was reassigned to Anduril in February. That contract is such a big deal, it even caused Anduril founder Palmer Luckey to publicly forgive his former employer Meta last week as the two companies announced a partnership to create devices for the project.
Anduril executive chair and co-founder Trae Stephens, who is also a Founder’s Fund partner, disclosed the new funding in an interview on Bloomberg Television.