Defense technology startup Anduril Industries Inc. raises $2.5 billion in new funding, with Founders Fund as the lead investor contributing $1 billion.
The investment values Anduril at $30.5 billion, double its worth from the previous funding round in August, and will be used to address manufacturing and production challenges.
Anduril's plans include building a factory called Arsenal-1, which is projected to cost over $1 billion, create 4,000 jobs, and produce tens of thousands of defense systems yearly using commercial manufacturing equipment.
The company aims to expand its manufacturing capacity with a second factory, Arsenal-2, and the new funding will also support product development efforts, including recent products like the subsea sensor called Seabed Sentry.