Anduril Eyes $100 Billion Valuation in New Funding Round Amid Rising Defense Demand
American defense technology company Anduril is in talks with investors for a new funding round that could value the company at approximately $100 billion, Reuters reports. This valuation would place Anduril alongside major defense contractors like Northrop Grumman and Lockheed Martin. However, the funding round and valuation are not yet finalized. In May, Anduril raised $5 billion at a $61 billion valuation, led by major U.S. funds Andreessen Horowitz and Thrive Capital, the latter managed by Josh Kushner, brother of Jared Kushner.
Founded in 2017 by Palmer Luckey, who previously sold Oculus VR to Facebook for $2 billion, Anduril specializes in military drones and robotics. It is one of the few startups, alongside Palantir, to successfully secure large contracts with the U.S. defense establishment and other countries. In June, reports indicated Anduril was exploring opening operations in Israel.
Reuters sources say the company may use a two-stage funding process, requiring investors to commit to a second round at a higher valuation within a year, contingent on meeting certain financial targets. The talks occur amid heightened demand for Anduril’s products due to the ongoing conflict with Iran. If achieved, the valuation would rival Lockheed Martin, known for producing F-22, F-15, and F-35 fighter jets.
Anduril reported $2.2 billion in revenue for 2025 and has doubled its workforce. A company spokesperson told Reuters no decisions on future funding have been made yet, adding, "As a private company, we regularly explore opportunities to finance our growth."
