Anduril reportedly in talks to raise funding at $100B valuation, more than 3x last year’s mark - TechCrunch

What the report says

TechCrunch, citing a Reuters report based on unnamed sources, says defense technology company Anduril is in discussions to raise new capital at a valuation that could reach about $100 billion. The report says the potential financing would lift the company’s value by roughly $40 billion from a May round, when Anduril raised $5 billion at a $61 billion valuation. Reuters reported that the fundraising may be arranged in two stages, with later investors entering at a higher valuation, and that both parts could close within the year.

Anduril pushed back on the certainty of the report’s details. In a statement to TechCrunch, the company said no decisions had been made on future financing and that claims about terms, structure, pricing or timing were speculative or misinformed. The company added that, as a private business, it regularly reviews options to finance growth.

The reported talks come during a surge of investor interest in defense startups, particularly those building drones, autonomous systems and AI-enabled military tools amid conflicts in Eastern Europe and the Middle East. TechCrunch reported that venture funding for the sector more than doubled in the first half of the year to more than $12 billion, surpassing the nearly $10 billion raised across all of 2025.

Anduril has secured work with U.S. military branches and allied defense organizations, including NATO and several European governments, according to TechCrunch. The company said in May that 2025 revenue had more than doubled to $2.2 billion. Its investors include Thrive Capital, Andreessen Horowitz, Founders Fund, ICONIQ, Flux Capital, Greycroft, Altimeter and 1789 Capital, with PitchBook also listing current U.S. Vice President JD Vance.