Artificial intelligence and robotics Startups Venture

Report: Palmer Luckey’s AI-Powered Defense Tech Startup Anduril Seeks $7B Valuation

Just as President Joe Biden asks for $20 billion for military assistance to Ukraine, news breaks that a Southern California military defense startup may be raising at least $500 million.

Costa Mesa, California-based Anduril Industries, an advanced defense technology startup, is reportedly looking to raise at least $500 million—and as much as $1 billion—at a more than $7 billion pre-investment valuation, according to The Information.

Anduril provides AI-enhanced military and surveillance technologies across land, air and sea. In January, it announced that the U.S. Special Operations Command had picked Anduril to support its counter-drone systems in a deal worth nearly $1 billion.

Search less. Close more.

Grow your revenue with all-in-one prospecting solutions powered by the leader in private-company data.

In June, the company raised a $450 million Series D at a post-money valuation of $4.6 billion. The round was led by Elad Gil, with participation from Andreessen Horowitz, 8VC1 , Founders Fund, General Catalyst, Lux Capital, Valor Equity Partners and D1 Capital Partners.

Aside from its investors, the company has other notable names behind it. Anduril was co-founded by Palmer Luckey—who co-founded Oculus, the VR startup sold to Facebook for $2 billion in 2014. Luckey also serves as Anduril’s CTO.

Brian Schimpf, who serves as the company’s co-founder and CEO, previously was at software defense company Palantir Technologies, itself a venture-backed unicorn with ties to national defense.

Palantir raised more than $3 billion—according to Crunchbase—for its data and analytics work that can be used by the military. In-Q-Tel, which has connections to the CIA, was an investor.

However, more than a year and a half after its IPO, Palantir’s stock is still hovering around its $10 per share IPO price.

Investors surely are hoping for more from Anduril.

Illustration: Li-Anne Dias.


  1. 8VC is an investor in Crunchbase. It has no say in our editorial process. For more, head here.

Tags

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Copy link