Anduril secures $200m funding, value reaches $1.9bn

Harry Lye 2 July 2020 (Last Updated September 8th, 2020 03:17)

Anduril, a US venture capital-backed defence technology business, has secured $200m of Series C funding and doubled its valuation to $1.9bn.

Anduril secures $200m funding, value reaches $1.9bn
Anduril’s Ghost sUAS. Image: Anduril.

Anduril, a US venture capital-backed defence technology business, has secured $200m of Series C funding and doubled its valuation to $1.9bn.

The company is known for its Lattice Artificial Intelligence (AI) tool and work on Unmanned Aerial Vehicles (UAVs). Lattice is designed to link several systems processing information and speeding up decision making.

In an email, a representative for Anduril said the funding would accelerate developments in AI and allow the company to scale through hiring more staff. Anduril has contracts with the US Department of Defence (DOD), Department of Homeland Security (DHS) and the UK Ministry of Defence (MOD).

In a statement, Anduril Industries CEO Brian Schimpf said: “We founded Anduril because we believe there is value in Silicon Valley technology companies partnering with the Department of Defense.

“In just three years we have demonstrated there is a desire for real innovation in defence and hope our work serves as a model for continued collaboration.”

The company added that the additional investment would support its push to transform defence capabilities.

Schimpf said: “Our business continues to accelerate with a suite of software and hardware products and an expanding roster of customers.

“We did this by using our unique business approach to transform the way business is done with the government and by attracting the best and brightest talent, who are building the next generation of advanced technology capabilities critical to the future of national security.”

Anduril was founded by Palmer Luckey, formerly of Oculus Rift, and has been leading a shifting attitude towards venture capital-backed businesses contribution to the defence industry. While some prominent Silicon Valley companies have looked to loosen their ties with defence, Anduril has made the sector its primary customer.

Anduril’s four key product offerings are its AI platform, autonomous sentry towers, the Ghost small UAS(sUAS) and the Anvil sUAS that is built as an interceptor system that can ram adversarial drones out of the sky if they enter a restricted area. Anduril’s sentry towers are billed as being effective for both border surveillance and guarding fixed positions such as bases.

The company’s Ghost sUAS has been used by the UK Royal Marines 40 Commando.