Anduril doubles valuation to $60B

Anduril Industries said on May 13 that it raised $5 billion in a new funding round that valued the defense technology company at $61 billion, more than double its valuation from a year earlier. The Costa Mesa, California-based company said Thrive Capital and Andreessen Horowitz led the round. Reuters reported that Anduril had been seeking about $4 billion in March before announcing the larger raise. The company said it will use the money to expand manufacturing, research and infrastructure as it pushes deeper into Pentagon programs and missile defense work. ### How big is this financing round compared with Anduril’s last one? Anduril said the new round values the company at $61 billion, up from $30.5 billion in a June 2025 funding round. The company also said its revenue more than doubled over the past year to $2.2 billion in 2025 and that its workforce nearly doubled. Reuters said the latest raise shows how much private capital has moved into defense technology as investors back companies tied to U.S. military modernization. (money.usnews.com) ### Who backed the deal, and what did the company say it will do with the money? Thrive Capital and Andreessen Horowitz led the financing, according to Anduril and Reuters. Chief Executive Brian Schimpf said the company would invest “aggressively” in manufacturing, research and infrastructure to scale defense systems for the United States as geopolitical risks rise. CNBC reported that Anduril is staying private even as investors have widely expected an eventual initial public offering, and founder Palmer Luckey said last year he would “definitely” take the company public. (money.usnews.com) ### Why is Golden Dome part of the conversation around Anduril? CNBC reported that Anduril recently joined a group of companies working on space interceptors for President Donald Trump’s proposed $185 billion missile defense system known as Golden Dome. USA Today reported on May 6 that the effort centers on a Space-Based Interceptor program designed to place weapons in orbit so the U.S. military can engage missile threats earlier in flight. (money.usnews.com) Reuters, as cited by other outlets, said Anduril has also acquired a space missile and satellite tracking company as it builds out that business. ### What other Pentagon work is Anduril winning? CNBC reported that the Department of Defense on May 13 announced an agreement with Anduril, CoAspire, Leidos and Zone 5 to buy more than 10,000 low-cost hypersonic missiles over the next three years. Separately, AL.com reported that the Pentagon announced $827.9 million in contracts to 18 companies on May 12, with 13 of those companies having headquarters or a substantial presence in Huntsville, Alabama. (cnbc.com) Those awards were separate from Anduril’s financing but underscored the pace of current Pentagon contracting across missile and defense programs. ### Why are investors pouring money into defense technology now? Reuters said defense technology companies have become a funding focus as investors move to capture demand created by the ongoing U.S.-Iran war and by broader U.S. rearmament efforts. CNBC also pointed to recent funding rounds for Shield AI, Saronic and several space companies as evidence that venture investors are putting larger sums into military and dual-use businesses. (cnbc.com) Crunchbase reported that defense-related startup funding had already accelerated through mid-May, with Anduril’s round among the year’s largest. ### What constraint is hanging over all of this spending? NBC News reported that the Pentagon has not signed new munitions contracts to replenish some supplies depleted by the war with Iran, citing two U.S. officials and two people familiar with the matter. That report said concerns inside the Defense Department have grown as stockpiles run low even while new missile-defense and weapons programs move ahead. Time reported that rebuilding some inventories could take one to four years, citing defense analyst Mark Cancian. (money.usnews.com) May 13 was also the day CNBC reported the Pentagon’s hypersonic-missile agreement involving Anduril, CoAspire, Leidos and Zone 5, while Anduril said its new capital would go toward scaling production and infrastructure. The next concrete markers are whether the company converts Golden Dome work into formal awards and whether it moves closer to the public offering that Luckey said he would pursue. (cnbc.com) (nbcnews.com)