Anduril is reportedly in talks to raise $100 billion in funding, more than 3 times last year’s level

Defense technology company Anduril is reportedly raising a new round of capital that could raise its value by a whopping $40 billion to around $100 billion. Reuters Quoted from anonymous sources.

The company that He grew up $5 billion in May at a $61 billion valuation — itself nearly double the amount Valuation of $30.5 billion It has reached its Series G round in June 2025 — and may structure the fundraising as a two-stage process, with the second stage bringing investors at a higher valuation. Reuters reported that both tranches may be closed within the year.

The news comes as the defense technology industry is experiencing an unprecedented recovery, driven by demand for drones, self-driving aircraft, and the role of artificial intelligence in warfare, as the war rages in the Middle East and Eastern Europe. In the first six months of the year, the sector witnessed investment financing More than double to more than $12 billion, surpassing the nearly $10 billion raised by startups in this space in all of 2025.

Anduril took advantage of this demand, signing contracts with the United States Ministry of Defense, Air Force and armythe Dutch Ministry of Defencethe NATOthe British Ministry of Defence, PolandAnd more.

Company He said In May it doubled its revenue to $2.2 billion in 2025 from the previous year.

Other startups have benefited as well: military aircraft manufacturer Shield AI in March He grew up $1.5 billion, Mach Industries quadrupled Its valuation reached $1.8 billion last month, and Hellsing’s in Europe this month He grew up $1.8 billion at a valuation of $18 billion.

What these deals have in common is a shift toward cheaper, more expendable hardware — often called “referable” systems — rather than the expensive, replaceable equipment that has been specified in defense contracting for decades. Mach CEO Ethan Thornton said Mach designs systems for The present era of war At a much lower cost than traditional defense contractors, citing Ukraine’s use of autonomous drones as a model.

Separately, Mach and Anduril have also moved to secure their own propulsion supplies. Mach acquired Solid rocket motor maker Exquadrum for $50 million in May, while the Pentagon acquires Funded Anduril’s efforts to expand domestic capacity to manufacture solid rocket motors — moves aimed at overcoming a supply bottleneck that precedes and interrupts the trend of low-cost weapons.

Anduril’s investors include Thrive Capital, Andreessen Horowitz, Founders Fund, ICONIQ, Flux Capital, Greycroft, Altimeter, 1789 Capital, and current US Vice President JD Vance, according to PitchBook.

Anduril did not immediately respond to a request for comment.