Anduril

Last Reported Valuation
$61B
Series H, May 2026
Total Funding Raised
$6.9B+
As of June 2026
Founded
2017
Costa Mesa, CA
Exchange Listing
Private
Not publicly traded
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About Anduril Industries

Anduril Industries is one of the most prominent next-generation defense technology companies in the United States. Founded in 2017 by Palmer Luckey (creator of the Oculus Rift VR headset), Brian Schimpf, Trae Stephens, Joseph Chen, and Matt Grimm, and headquartered in Costa Mesa, California, Anduril is building autonomous systems, AI-powered defense platforms, and advanced hardware designed to reshape how the U.S. and allied militaries operate at scale.

In May 2026, Anduril closed a $5 billion Series H round led by Andreessen Horowitz and Thrive Capital, valuing the company at $61 billion — roughly double its $30.5 billion valuation from just twelve months prior. The company reported approximately $2.2 billion in 2025 revenue, nearly double its 2024 figure of ~$1 billion, and is targeting approximately $4.3 billion in 2026 revenue. Total funding now exceeds $6.9 billion across nine rounds since founding.

Anduril's flagship product is Lattice OS — an AI-powered autonomous command and control platform that integrates sensors, drones, submarines, and other defense assets into a unified operational network. Key programs include the Ghost autonomous drone, Roadrunner reusable interceptor, Fury autonomous combat aircraft (in production at Arsenal-1 in Ohio), and the $22 billion IVAS augmented reality headset program assumed from Microsoft. Founder Palmer Luckey has stated that an IPO is "definitely" on the roadmap, though no S-1 has been filed and no timeline has been confirmed as of June 2026.

Funding History

Round Date Amount Raised Post-Money Valuation Notable Investors
Series H May 2026 $5B ~$61B Andreessen Horowitz (lead), Thrive Capital (lead), Founders Fund, Sands Capital, Fidelity
Series G Jun 2025 $2.5B ~$30.5B Founders Fund (lead, $1B — largest single check in firm history), Andreessen Horowitz, Thrive Capital, General Catalyst
Series F Aug 2024 $1.5B ~$14B Sands Capital (co-lead), Founders Fund (co-lead), Fidelity, Andreessen Horowitz
Series E Dec 2022 $1.48B ~$8.5B Valor Equity Partners (lead), Thrive Capital, DFJ Growth, Andreessen Horowitz
Series D Jun 2021 $450M ~$4.7B Elad Gil (lead), Andreessen Horowitz, General Catalyst, Founders Fund
Series C Jul 2020 $200M ~$1.9B Andreessen Horowitz, General Catalyst, Founders Fund
Series B Sep 2019 ~$100M ~$1B+ Andreessen Horowitz, Founders Fund, General Catalyst
Series A Jun 2018 ~$50M — Founders Fund, Andreessen Horowitz

Figures sourced from public disclosures and press releases. Some early-round amounts are approximate. For informational purposes only. Not an offer or solicitation.

Company Details

Legal Name
Anduril Industries, Inc.
Headquarters
Costa Mesa, CA
Founded
2017
Sector
Defense Technology
Sub-Sector
Autonomous Systems / AI Defense
Flagship Product
Lattice OS
CEO / Founder
Palmer Luckey
Employees
~3,100
Exchange Listing
Not Public

Anduril Stock FAQs

No. Anduril Industries is a private company and has not filed a public S-1 with the SEC as of June 2026. There is no Anduril stock ticker or exchange listing. Founder Palmer Luckey has publicly stated that an IPO is "definitely" on the roadmap, and the company has confirmed a public listing is coming, but no specific date, underwriter, or price range has been announced. Accredited investors interested in exposure to Anduril may explore the FNEX Ventures Fund, subject to eligibility and availability.
Anduril's most recently reported post-money valuation is $61 billion, established at the close of its Series H round in May 2026 — roughly doubling its $30.5 billion valuation from June 2025 and more than four times its $14 billion valuation from August 2024. This rapid re-rating reflects both strong revenue growth (reported $2.2B in 2025) and accelerating U.S. defense demand for autonomous systems. Private company valuations are based on the terms of recent financing rounds and are not indicative of current market value or future performance.
Anduril's most prominent institutional backers include Andreessen Horowitz and Founders Fund, which have participated in nearly every round since the company's founding. Additional investors include Thrive Capital, Valor Equity Partners, General Catalyst, Sands Capital, Fidelity Management & Research Company, DFJ Growth, and angel investor Elad Gil. Founders Fund contributed $1 billion into the June 2025 Series G — the largest single check in the firm's history.
Anduril builds autonomous defense systems and AI-powered military platforms for the U.S. and allied governments. Its core software product, Lattice OS, serves as an AI-driven command and control platform that fuses sensor data and coordinates autonomous systems across air, land, sea, and cyber domains. Hardware products include the Ghost autonomous drone, the Roadrunner reusable vertical-take-off interceptor, the Fury autonomous combat jet (entering production at Arsenal-1 in Ohio in March 2026), and Sentry surveillance towers. Anduril also assumed responsibility for Microsoft's $22 billion IVAS augmented reality headset program in February 2025. The company is targeting approximately $4.3 billion in 2026 revenue.
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This is a private company. Its shares are not publicly traded and no market pricing is provided on this page. All valuation figures are based on publicly reported funding round data and are not indicative of current market value, intrinsic value, or future performance. Private company valuations are inherently uncertain and may change materially over time.

Company names, logos, and trademarks referenced or displayed on this page are used for illustrative purposes only and do not represent actual holdings, target investments, or future investment intentions of the FNEX Ventures Fund. There is no guarantee that any portfolio company will complete an initial public offering (IPO), merger, acquisition, or other liquidity event. Investment in private funds involves a high degree of risk, including the possible loss of the entire investment. Past performance is not indicative of future results.

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