- 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 and Lockheed Martin, according to sources familiar with the matter.
- The funding round and the valuations are still fluid, as reported for the first time.
- One idea floated was for the company to use a two-stage process, requiring investors to commit to financing a second round at a higher valuation within a year.
- A spokesperson for Anduril stated that no decisions had been made about future financing, emphasizing that as a private company, they regularly evaluate opportunities to fund growth.
- The potential valuation would make Anduril nearly as valuable as Lockheed Martin, which is valued at $130 billion.
Defense tech firm Anduril is in advanced discussions to raise funds that could push its valuation to around $100 billion, positioning it alongside major players like Lockheed Martin and Northrop Grumman. The funding round, still in flux, may involve a two-stage process requiring investors to commit to a second round at a higher valuation within a year.1235
A spokesperson for Anduril stated, "As a private company, we regularly evaluate opportunities to fund the growth of the business," emphasizing that no decisions have been finalized regarding future financing. The company recently doubled its valuation to $61 billion following a $5 billion funding round led by Thrive Capital and Andreessen Horowitz just two months ago.4
Anduril's rapid growth is fueled by booming military sales and a strong product lineup, including drones, software, and missiles, which have garnered significant investor interest amid ongoing U.S. military engagements. The company reported $2.2 billion in revenue for 2025 and has doubled its workforce, reflecting its aggressive expansion strategy.
At the Farnborough Air Show, Anduril unveiled its latest innovation, the Thunder, a vertical-takeoff-and-landing drone designed to operate alongside military helicopters, further showcasing its commitment to advancing military technology.
The potential valuation would make Anduril nearly as valuable as Lockheed Martin, which is currently valued at $130 billion and is known for producing some of the Pentagon's most expensive fighter jets, including the F-22, F-15, and F-35.
“Just two months ago, Anduril doubled its valuation to $61 billion in a $5 billion funding round led by Thrive Capital and Andreessen Horowitz. The company, which reported $2.2 billion in revenue in 2025, also debuted a new vertical-takeoff-and-landing drone called Thunder at the Farnborough Air Show.”
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