Key facts
- Defense technology firm Anduril is in talks with investors for a new funding round.
- The company could be valued at approximately $100 billion in this round.
- Anduril has seen significant growth in military sales, driven by its drones, software, and missiles.
- The company's valuation had previously doubled to $61 billion in a $5 billion round two months ago.
- Anduril reported $2.2 billion in revenue for 2025 and has doubled its workforce.
Defense technology firm Anduril is reportedly in discussions with investors for a new funding round that could value the company at approximately $100 billion. This potential valuation would place it in competition with established defense giants like Lockheed Martin, which has a market capitalization of $130 billion.
The company has experienced a surge in military sales, fueled by investor enthusiasm for its offerings of drones, software, and missiles, particularly amid ongoing U.S. conflicts. This follows a significant increase in its valuation just two months prior, when Anduril doubled its worth to $61 billion after raising $5 billion in a round led by Thrive Capital and Andreessen Horowitz.
Anduril, founded by Palmer Luckey, has been rapidly developing and announcing new military weapons and drones. The company reported $2.2 billion in revenue for 2025 and has doubled its workforce. Earlier in the week, Anduril unveiled a new vertical-takeoff-and-landing drone named Thunder at the Farnborough Air Show.
Discussions around the funding round and its valuation are described as fluid, with some proposals including a two-stage financing process. Anduril has stated that no decisions have been made regarding future financing, but that as a private company, it regularly evaluates opportunities to fund business growth.