Defense tech startup Anduril closed a $1.5 billion funding deal, valuing the company at $14 billion, up from $8.5 billion in December 2022. The company, founded by Palmer Luckey, aims to compete with established American defense contractors like Lockheed Martin, RTX, Northrop Grumman, Boeing, and General Dynamics by adopting a faster, Silicon Valley approach to defense production. Anduril recently won contracts over some of these companies for small unmanned fighter jet prototypes and reported doubling its revenue to about $500 million last year. The new funding, co-led by Founders Fund and Sands Capital, will help scale a new software-defined manufacturing platform called “Arsenal,” expanding production space by over five million square feet and employing more than 1,500 people to produce tens of thousands of autonomous military systems annually. The focus on software in the new factory aims to improve efficiency and allow for quick iterative changes in manufacturing. While Anduril’s success has sparked interest in the defense tech sector, its broader impact remains uncertain.
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