Anduril Industries Announces $1.5B Financing with New $14B Valuation

Gunderson Dettmer represented client Anduril Industries, a defense tech company, in its $1.5 billion Series F financing co-led by Founders Fund and Sands Capital.  Anduril, now valued at $14 billion, is committed to transforming US and allied defense capabilities by combining modern software expertise with a rapid and differentiated approach to hardware development and manufacturing.  The new capital will be used to scale a new software-defined manufacturing platform called “Arsenal,” starting with the Arsenal-1 factory.

In the announcement of the transaction, TechCrunch states, “The company’s aim is to ‘hyper-scale’ defense production, and to produce defense systems at a scale that is not currently possible for exquisite military systems. But Anduril is not focused on making a few very expensive, exquisite systems; it’s focused on producing many times more cheaper products, which can be hyper-scaled with a rebooted factory. Arsenal is meant to be exactly that: an adaptable, replicable model that ‘scales indefinitely and makes it possible to rebuild the arsenal of democracy.’”

The Gunderson Dettmer deal team was led by Lou Soto and included Nick Harley, Jeff Vetter, Jesse Birbach, Adam Lin, Zahrah Fadel, Joe McGinley, Jake Winton, Ben Lezin, Vijeta Kanabar and Anthony Farnesi.

Companies
Anduril Industries
Founders Fund
Sands Capital