Anduril Industries, a defense technology company founded by Palmer Luckey, has raised $2.5 billion in new funding, bringing its valuation to $30.5 billion.
The company was previously valued at approximately $13 billion. With this surge, Anduril now ranks among the most valuable private companies in the world and is closing in on the size of traditional U.S. defense contractors like Northrop Grumman and General Dynamics.
Anduril, known for developing autonomous systems and AI-driven solutions to modernize military operations, said it secured the new funding after doubling its revenue to approximately $1 billion in 2024.
The company currently holds major defense contracts, including a $642.2 million deal with the U.S. Navy for counter-drone systems and a partnership with General Atomics on an autonomous aircraft program worth up to $9 billion.
Earlier this year, Anduril also took over Microsoft’s $22 billion augmented reality headset project for the U.S. Army.
The company plans to use the new funding to expand its manufacturing site in Ohio, make acquisitions, hire globally, and develop new products. It is also working with Meta on a separate AI-powered military headset.
Meanwhile, Luckey confirmed on Tuesday that the company will soon go public. “We are definitely going to be a publicly traded company,” he told CNBC. “We are running this company to be the shape of a publicly traded company.”
He added that Anduril needs to go public in order to compete for major trillion-dollar defense contracts. Luckey did not provide a timeline for the Initial Public Offering.
