From Reuters, July 24:
- Investors may need to commit to a second round at roughly $110 billion, sources said
- Anduril said no decisions had been made about any future financing
- The company reported $2.2 billion in 2025 revenue in January
Defense tech firm Anduril is in discussions with investors for a new funding round that could see it valued at roughly $100 billion, rivaling companies such as Northrop Grumman (NOC.N) and Lockheed Martin, two sources familiar with the matter told Reuters.
The funding round and the valuations, reported here for the first time, are still fluid, the sources said.
One idea that had been floated was for the company to use a two-stage process, where investors would need to commit to financing a second round at a higher valuation that could occur within a year, the sources said. The valuation for the second funding round could involve Anduril meeting certain financial benchmarks, they said.
Reuters could not determine how much Anduril planned to raise.
In a statement, a spokesperson for Anduril said no decisions had been made about any future financing. "As a private company, we regularly evaluate opportunities to fund the growth of the business," the spokesperson said.
The talks come as the company has posted booming military sales and generated investor enthusiasm around its suite of drones, software and missiles amid the U.S. conflict with Iran. Just two months ago, the company doubled its valuation to $61 billion in a $5 billion funding round led by Thrive Capital and Andreessen Horowitz....
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