Anduril raises $5 billion, doubles valuation to $61 billion

Another year, another massive influx of capital into Anduril: The funding round that was rumored to take place in March has officially closed. Anduril has raised a $5 billion Series H round at a $61 billion valuation, led by returning investors Thrive Capital and Andreessen Horowitz, the company announced Wednesday.

That’s more than double the valuation it received just under a year ago, when it raised $2.5 billion at a $30.5 billion valuation led by Founders Fund. (The founder’s fund received a check for $1 billion, the largest check he had ever written, he told TechCrunch at the time.)

This latest increase comes after the nine-year-old defense technology company doubled its revenue in 2025 to $2.2 billion, CEO Brian Schimpf wrote in a blog post announcing the increase.

Interestingly, although Anduril is the clear winner among VC investors, DoD is already giving signals that it will not limit itself to just any emerging startup.

Shield AI, another American drone company, recently had its software selected by the Air Force to work with Anduril’s “Fury” autonomous fighter jet, rather than awarding the entire hardware and software contract to either.

However, Anduril is hardly hurt by the participation. In the past few weeks, it has announced a number of contracts, and has expanded outside the United States as well.

In May, it announced it was part of a contract with others to develop a space defense system called Golden Dome — a missile defense shield designed to protect the continental United States — for America. Anduril also announced it had won a contract from the Dutch Ministry of Defense and a contract from the US Army for its battle management software, using its Lattice platform to analyze data from joint missile defense systems.

“When we founded Anduril in 2017, defense was not a category attracting significant venture investment. That has changed dramatically over the past few years,” Schimpf wrote in the post.

I have. Let’s just look at some recent examples: In March, Shield AI raised $1.5 billion in Series G funding at a valuation of $12.7 billion. Last month, Hermeus, a maker of hypersonic combat drones, raised $350 million at a valuation of more than $1 billion, led by Khosla Ventures. European defense technology company Helsing is reportedly close to raising a new $1.2 billion round at a valuation of around $18 billion, led by Dragoneer and former Helsing investor Lightspeed.

Anduril has now raised more than $11 billion from investors in total.