US defence startup Anduril Industries is now raising a multibillion-dollar investment that could double its valuation to about $60 billion, according to The Wall Street Journal.
The round is being co-led by Thrive Capital and Andreessen Horowitz, with existing investors Lux Capital and Founders Fund also expected to participate.
Earlier this year, Thrive raised $10 billion in new funds, including $9 billion dedicated to large investments, giving the firm significant capital to back companies like Anduril.
The new funding would further strengthen Anduril’s position as one of the most valuable defence technology startups in the world.
If the deal closes as planned, the new investment would double Anduril’s valuation from $30.5 billion last year to around $60 billion, including the new capital. However, the funding round has not yet been finalised, and the final terms could still change, according to the report.
Building AI-powered defence systems
Founded in 2017 by tech entrepreneur Palmer Luckey, Anduril develops AI-powered hardware and software for autonomous defence systems, including drones and surveillance platforms used by the US government.
The new funding comes as investors pour money into defence technology startups. Governments are increasingly looking for modern solutions as geopolitical tensions rise and older defence systems need upgrades.
Anduril gained strong investor attention after winning a contract to supply drones to Ukraine, although the company has also faced operational challenges during deployments.
