Anduril in talks to raise funds at $100B valuation
Original: Anduril reportedly in talks to raise funding at $100B valuation, more than 3x last year’s mark
Why This Matters
Anduril's rapid valuation growth signals record institutional appetite for defense tech and autonomous warfare systems.
Defense tech startup Anduril is reportedly in talks to raise a new funding round at a $100 billion valuation, more than 3x its June 2025 mark of $30.5B. Reuters cited anonymous sources, noting the round may be structured in two tranches, both expected to close within 2026.
According to Reuters, Anduril is in discussions to raise capital at approximately $100 billion, up from the $61 billion valuation it achieved in a $5 billion raise in May 2026, and more than triple its $30.5 billion Series G valuation from June 2025. The new fundraise may be structured as a two-stage process, with the second tranche bringing in investors at a higher valuation, with both closes expected within the year.
Anduril reported more than doubling its revenue to $2.2 billion in 2025. The company holds contracts with the U.S. DoD, Air Force, Army, NATO, and defense ministries in the Netherlands, UK, and Poland, among others.
The raise reflects broader momentum in defense tech: venture funding in the sector surpassed $12 billion in the first half of 2026, exceeding the nearly $10 billion raised by defense startups in all of 2025. Peers including Shield AI ($1.5B raise), Mach Industries (valuation raised to $1.8B), and Europe's Helsing ($1.8B at $18B valuation) have also closed major rounds recently.
A key trend driving investment is the shift toward lower-cost, expendable 'attritable' systems such as autonomous drones. Anduril's backers include Andreessen Horowitz, Thrive Capital, Founders Fund, and ICONIQ, among others. Anduril did not respond to a request for comment.