Sources: Anduril is in talks to raise up to $2.5B, led by Founders Fund with a $1B commitment, at a $28B valuation; Anduril's revenue in 2024 doubled to ~$1B
WATCH NOW — Anduril, the defense-tech startup founded by Palmer Luckey, has signed a term sheet to raise capital at a $28 billion valuation …
My thesis is straightforward: There will be a SpaceX and Anduril in every big category led by sclerotic incumbents. These Vertical Integrators will be much bigger than the incumbents they replace.
Fascinating time for defense technology. Maturing autonomous technology is meeting surging end market demand. This is the sweet spot for high, risk-adjusted returns. Funding scalable growth (sales, marketing, supply chain and sustainment), not risky technology development.