Anduril Industries, an AI-powered defense technology company, secured US $450 million in a Series D funding round, sending its valuation to a whopping US $4.6 billion. Announced on June 17, 2021, the round was led by serial entrepreneur and angel investor Elad Gil with participation from Andreessen Horowitz, Founders Fund, General Catalyst, 8VC, Lux Capital, Valor Equity Partners, and D1 Capital Partners.
Trends and growth in the industry
Anduril Industries was launched quietly in 2017 but grew quickly, picking up contracts with Customs and Border Protection and the Marine Corps during the Trump administration. The company produces defense hardware, including long-flying drones and surveillance towers that connect to a shared software platform called Lattice. The technology can be applied to monitor borders, secure military bases, and even shoot enemy drones out of the sky, in the case of Anduril’s counter-UAS technology known as “Anvil.”
Anduril Industries envisioned working with the Department of Defense from its inception and was one of 50 vendors tapped by the DoD to examine technology for the Air Force’s piece of the Joint All-Domain Command & Control (JADC2) project in 2020, which attempts to develop a smart warfare platform to connect all service members, vehicles, and devices that power the U.S. military.
Anduril Industries’ work with U.S. Customs and Border Protection also evolved from a pilot into a program of record in 2020. The company provides the agency with connected surveillance towers able to autonomously track stretches of the U.S. border.
As of April, Anduril Industries acquired Area-I, a company that specializes in making small drones that can be launched from a larger aircraft. Area-I counted the U.S. Army, Navy, Air Force, and NASA among its client relationships that possibly sweetened the deal.
Co-founder and CEO of Anduril Industries, Brian Schimpf describes the company’s mission as one of “transformation,” matching relatively affordable hardware with sensor fusion and machine learning technologies through a contract ally nimbler than established giants in the defense sector.
“This new round of funding reflects our confidence that the Department of Defense sees the same problems we do, and is serious about deploying emerging technologies at scale across land, air, sea, and space domains,” Schimpf said.
Anduril Industries is a defense product company that develops technology for border surveillance and military agencies. Anduril employs top technical talent to solve the most complex national security challenges. The company produces the next generation of technology that will support and protect those who serve on the front lines defending the nation and its interests.
Founded in 2017 by Brian Schimpf, Joseph Chen, Matt Grimm, Palmer Luckey, and Trae Stephens, Anduril Industries is headquartered in Irvine, California, United States. Anduril Industries has a mission to develop cutting-edge technology that enables America and its allies to maintain global leadership now and into the future.
For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!