Dec 2, 2022 - Economy

Defense startup Anduril raises $1.48 billion in Series E funding

Photo collage of a shield and money.

Illustration: Aïda Amer/Axios

Anduril, a defense technology startup set up by Oculus founder Palmer Luckey, has raised $1.48 billion in Series E funding led by Valor Equity Partners at an $8.48 billion valuation.

Why it matters: This is the second largest funding round in 2022, behind SpaceX's $1.7 billion in May.

  • The funding round was first rumored in the spring. It closed on Dec. 1, a spokesperson said.

Of note: Earlier this year, the company won a 10-year contract worth almost a $1 billion with the U.S. Special Operations Command.

  • Anduril has also set up an office in Australia, where it signed a $100 million contract with the Royal Australian Navy.

Between the lines: The company is best known for building autonomous systems like drones and border surveillance tech.

  • It has been criticized for potentially enabling the enforcement of harsh border security policies and expanded government surveillance of residents.

Details: Other investors in the round include Founders Fund, Andreessen Horowitz, General Catalyst, 8VC, Lux Capital, Thrive Capital, DFJ Growth, Elad Gil, Lachy Groom, Human Capital, Marlinspike, WCM Investment Management, MVP Ventures, Lightspeed Ventures, and Thomas Tull's US Innovative Technology Fund (USIT).

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