Anduril Industries Inc. has raised $5 billion in a Series H funding round, boosting its valuation to $61 billion - more than double its valuation from a year ago.
The round was co-led by Thrive Capital and Andreessen Horowitz.
Anduril manufactures defense equipment including drones, missile engines, radar systems, and undersea sensors. Its Lattice software platform uses artificial intelligence to process data from thousands of sensors and generate real-time decision recommendations.
The company’s product lineup also includes the Voyager series of ruggedized network devices and EagleEye augmented reality headsets that overlay sensor data onto a wearer’s field of view.
According to a memo sent to investors, Anduril’s revenue doubled to $2.25 billion last year. !
A portion of the new funding will go toward expanding manufacturing capacity. In March, the company opened Arsenal-1, a 5 million-square-foot facility in Ohio. Anduril may also use capital for acquisitions, having completed more than half a dozen deals since its founding - most recently buying space observation firm ExoAnalytic Solutions in March.