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Anduril - is an American defence technology company focused on innovative solutions for national security. It creates its own products and sells them direct, unlike the conventional military procurement model, which involves contracting before development.
Most Recent Financing Round:
- The company raised $1.5 billion of Series F venture funding in a deal led by SandsCapital and Founders Fund on August 7, 2024, putting the company's pre-money valuation at $12.5 billion.
- The round valued Anduril at $14 billion, a 69% increase from its $8.5 billion valuation after its 2022 Series E.
- The round was co-led by Founders Fund and Sands Capital, and included new investors Fidelity Management & Research Co., Counterpoint Global, and Baillie Gifford.
Use of Proceeds:
Anduril plans to use the funds to develop Arsenal-1, a production facility that will manufacture autonomous military systems. The facility will use commercially available components and a modular approach to increase the speed and efficiency of manufacturing.
Current Contracts:
Last year, the U.S. Air Force chose Anduril to develop and test small unmanned fighter jets beating out Boeing, Lockheed Martin, and Northrop Grumman for the deal. The company already has current contracts with the U.S Army, Navy and Marine Corps and in December Anduril announced a collaboration with OpenAI enabling the defence tech firm to integrate AI systems into security missions.
- U.S. Army: $450M for autonomous systems.
- U.S. Navy: $200M for naval applications.
- U.S. Air Force: $150M for air force projects.
- U.S. Marine Corps: $100M for marine applications.
- Additional contracts with Lockheed Martin ($50M), Northrop Grumman ($30M), Raytheon ($20M), and General Dynamics ($10M).
Management Team/Board of Directors:
- Palmer Luckey, Founder & CEO: Inventor of Oculus Rift with expertise in VR and AI. - He is the Founder of defense technology company Anduril Industries, designer of the Oculus Rift, a virtual reality head-mounted display, and the Founder of Oculus VR, which was acquired by Facebook in 2014 for $2.3b.
- Brian Schimpf, COO: Defence industry veteran with leadership experience at Lockheed Martin. - Brian was an early hire at Palantir Technologies, where he built the Foundry product that is now deployed worldwide, and led the engineering and product organisations as Director of Engineering.
- Peter Thiel, Chairman: Co-founder of PayPal and Palantir, notable investor.
- Reid Hoffman, Director: LinkedIn co-founder and prominent tech investor.
You can read about Anduril's latest developments making headlines here.
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