Anduril Raises $5 Billion in Funding, Doubles Valuation to $61 Billion

Autonomous defense technology startup Anduril Industries announced on May 13 that it had raised $5 billion in a Series H funding round led by Andreessen Horowitz and Thrive Capital, valuing the company at $61 billion.

The financing round doubles Anduril’s valuation of $30.5 billion following its $2.5 billion Series G fundraising in June 2025, which was led by Peter Thiel’s Founders Fund with a $1 billion investment. The latest funding round demonstrates the increased interest in private equity financing for defense industry contractors, Anduril CEO Brian Schimpf said in a statement on the company’s website.

“When we founded Anduril in 2017, defense was not a category that attracted significant venture investment,” Schimpf said.

“That has changed meaningfully over the last several years. Investors have increasingly recognized the scale of the technological and industrial challenges facing the United States and its allies. This financing reflects that shift, and it gives us the ability to continue investing aggressively in manufacturing capacity, research and development, and the infrastructure required to build and field advanced defense systems at scale.”

Anduril was founded by tech entrepreneur Palmer Luckey, who founded Oculus VR in April 2012 when he was 19 years old. Facebook (now Meta) acquired the virtual reality headset maker in 2014 for $2 billion, with Luckey exiting a few years later to start Anduril.

The latest fundraising comes as Anduril ramps up production of a variety of autonomous defense systems. On May 13, Anduril announced a framework agreement with the Department of War to deliver a minimum of 3,000 surface-launched Barracuda cruise missiles. Anduril said it will deliver a minimum of 1,000 missiles annually beginning in 2027, along with 60 containerized launching systems.

The launchers are capable of holding 16 missiles with a range of 500 nautical miles, and they can be transported to a desired location for launch, Anduril said. Over the past year, the company added, Anduril invested more than $40 million to bring online a 115,000 square-foot manufacturing facility in Southern California to meet short-term demand for the Barracuda missile system.

Production for the Barracuda and other missile systems eventually will shift to Anduril’s new 5 million-square-foot manufacturing facility in Columbus, Ohio.

On May 12, Anduril announced a contract with the U.S. Army to develop an aerial missile defense system based in the Western Pacific. Anduril is also among a handful of companies picked to jointly create President Donald Trump’s Golden Dome space-based missile defense program announced at the start of 2025.

In addition to a suite of autonomous defense missiles and drones, Anduril is advancing next-generation sensors, software, and its Lattice battle management system, which enhances air defense platform targeting capabilities and unifies field operations.

“Platforms extend reach and mass,” Schimpf said in a letter to shareholders this past January. “Sensors and software create targeting advantage. Defensive and counter-targeting systems preserve survivability. Lattice binds them together.”

Reuters contributed to this report.