Anduril

Defense Tech · Autonomous Systems · Venture Capital

Funding

Anduril reportedly in talks to raise funding at $100B valuation

The proposed structure locks investors into a second round at an even higher price within a year, a rare demand few startups can make.

• Anduril is in talks with investors for a new funding round that could value the defense-tech firm at roughly $100 billion, Reuters reported, citing two sources.
• Anduril builds autonomous drones, missiles and its Lattice AI-powered battle-management software, with contracts spanning the Pentagon, NATO, the UK and Poland.
• One structure under discussion is a two-stage raise where investors commit upfront to a second, higher-priced round within about a year if Anduril hits set financial benchmarks.
• The jump would follow a rapid climb: Anduril was valued at $30.5B in June 2025, doubled to $61B in a $5B round this past May, and could now near $100B within roughly a year.
• Defense-tech venture funding topped $12 billion in the first half of 2026, already exceeding all of 2025, as investors chase cheaper 'attritable' drones and autonomous systems.
• A $100 billion valuation would put Anduril ahead of Northrop Grumman and within reach of Lockheed Martin, showing investors are now pricing defense startups like established prime contractors.