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Anduril - is an American defence technology company focused on innovative solutions for national security through the use of cutting-edge technologies such as AI, automation, virtual reality (VR), and augmented reality (AR). It creates its own products and sells them direct, unlike the conventional military procurement model, which involves contracting before development. Founded by Palmer Luckey, the company leverages these technologies to improve defence capabilities for surveillance, threat detection, and response.
Recent Announcements:
- Funding Round: Anduril is currently in talks to raise a new funding round, targeting a $28 billion valuation.
- Government Contract: Anduril has taken over Microsoft’s $22 billion U.S. Army headset program.
- Partnership with OpenAI: The company has partnered with OpenAI to deploy advanced AI systems for national security missions.
- Collaboration with Palantir: Anduril and Palantir have launched a consortium aimed at ensuring U.S. leadership in artificial intelligence for defense applications.
- Arsenal 1 Manufacturing Facility: Anduril is investing $1 billion into its new manufacturing facility, Arsenal 1, in Ohio to ramp up production capabilities.
Most Recent Financial Overview:
- Valuation: As of 2024, Anduril is valued at $14 billion following its Series F funding round, co-led by Founders Fund and Sands Capital.
- Projected Revenue: The company expects to generate $1 billion in revenue for 2024, which would place it at a 14x revenue multiple.
- Total Funding: Anduril has raised a total of $3.76 billion to date.
Anduril is now in discussions to raise a new round of funding at a $28 billion valuation.
Current Contracts:
In 2024, 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 Pentagon, 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.
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.
For more insights, refer to the following links:
- Palmer Luckey Discusses IPO Timing, Arsenal 1 Facility, and Geopolitical Impact on Defense Companies
- Anduril In Talks To Raise Funding At $28 Billion Valuation
- Anduril Founder Palmer Luckey talks $22 billion government contract
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