Reuters says Anduril is in talks for a new round that could value it at about $100 billion.
Why it matters: A deal at that level would be a major sign of investor appetite for defense tech and autonomous systems. It would also put Anduril in the range of major public defense contractors.
- Reuters reported on July 24, 2026 that Anduril is discussing a new funding round at about a $100 billion valuation.
- That would be roughly $40 billion above Anduril's most recent reported private valuation of $61 billion from a May 2026 round.
- TechCrunch said the company may be considering a two-stage fundraise, with both tranches potentially closing within the year.
- Anduril said no decisions have been made on future financing and that anyone claiming to know the terms, structure, pricing or timing is speculating or misinformed.
Reuters reported that Anduril is in discussions with investors for a new funding round that could value the defense-tech company at about $100 billion. If completed, that would be a sharp jump from the company's most recent reported private valuation of $61 billion in a May 2026 round, according to the Los Angeles Times.
TechCrunch, citing Reuters, reported that Anduril may be structuring the raise as a two-stage process, with a second stage bringing in investors at a higher valuation, and that both tranches could close within the year. The company pushed back on the reporting in an emailed statement, saying, "No decisions have been made about any future financing, and anyone claiming knowledge of its terms, structure, pricing, or timing is speculating or misinformed."
Reuters said a valuation at that level would put Anduril in a range that rivals major public defense contractors such as Northrop Grumman and Lockheed Martin. Independent coverage from Defense News and TechCrunch aligned with the Reuters report, but no deal has been confirmed publicly.
Anduril also said, "As a private company, we regularly evaluate opportunities to fund the growth of the business." TechCrunch said the company reported 2025 revenue of $2.2 billion, more than double the prior year, and noted contracts with the U.S. Department of Defense, Air Force, Army, Dutch Ministry of Defence, NATO, U.K. Ministry of Defence, Poland and others.
By the numbers
- $100 billion - Reported target valuation in the Reuters story
- $61 billion - Anduril's most recent reported private valuation from May 2026
- $2.2 billion - Anduril's reported 2025 revenue, cited by TechCrunch
Yes, but: The reported round is still only in discussion, and Anduril says no terms, structure, pricing or timing have been decided.
What's next: Reuters said the talks are ongoing. TechCrunch reported that, if structured as a two-stage deal, both tranches could close within the year.