Anduril

This company is in the pipeline of America 2030, IPO CLUB’s $50M, actively managed secondary fund focused on U.S. defense, energy, security, and AI.

Founded in 2017, Anduril's headquarters are in Irvine, CA, and it employs around 700 people. The company is part of the Space/Defense and AI/ML verticals at IPO CLUB.

 

What is Anduril?

Anduril Industries is a U.S.-based defense technology company specializing in autonomous systems, AI-driven military solutions, and advanced surveillance technologies. Founded in 2017 by Palmer Luckey, the company focuses on enhancing national security through cutting-edge innovations.

What does Anduril do?

Unmanned Aerial Systems (UAS) & Counter-UAS (CUAS)

• Ghost Drone: Surveillance drone for frontline military operations.

• Altius: Fixed-wing, tube-launched UAV deployable from multiple platforms.

• Anvil: Autonomous combat drone designed to intercept and neutralize enemy drones.

Sensors & Surveillance Systems

• Iris: Advanced airborne imaging and targeting sensor, providing infrared search, missile warning, and visualization capabilities.

Weapon Systems & Aerospace Capabilities

• Solid Rocket Motors: Anduril designs and manufactures solid rocket motors for defense and space launch systems.

  Operations and Strategic Partnerships

  • Global Presence: Operates in the U.S., U.K., and Australia, offering advanced surveillance and reconnaissance solutions for military applications.

  • Technology Partnerships: Collaborates with Google Cloud for AI-powered defense systems and OpenAI for national security applications.

  • Mergers & Acquisitions:

    • Acquired Area-I to enhance UAV capabilities.

    • Acquired Blue Force Technologies to expand into next-generation autonomous aircraft.

  Market Position & Industry Impact

  • Leader in AI-driven military modernization, leveraging autonomous systems, surveillance, and smart weapons.

  • Rapid expansion into global defense markets, securing key contracts with the U.S. military and allied forces.

  • Continuous investment in advanced warfare capabilities, reinforcing its position as a top defense innovator.

anduril Market Position & Industry Impact

Innovation and Competitive Strategy

• Silicon Valley Approach: Develops autonomous defense systems and AI-driven technologies ahead of formal military contracts, allowing for faster deployment than traditional contractors.

• Self-Funded R&D: Unlike legacy defense firms, Anduril uses private capital to fund innovation, avoiding cost-plus contracting models for faster, cost-efficient production.

Financial Growth & Valuation

• Revenue Growth:

  • 2023: $457 million

  • 2024: Estimated $1 billion

  • 2026: Projected $2 billion

Defense Technology Disruption

• Leading the AI-driven warfare revolution, specializing in unmanned aerial systems (UAS), counter-UAS, and networked battlefield solutions.

• Positioned to capture a significant share of the $38 billion AI defense spending market by 2030.

Global Expansion & Manufacturing Scale

• $900 million Arsenal-1 facility in Ohio will mass-produce autonomous systems, creating over 4,000 jobs by 2035.

• Rapidly expanding international defense contracts in U.S., U.K., Australia, and allied markets.

Regulatory & Competitive Landscape

• Faces strong competition from traditional defense giants (Lockheed Martin, Northrop Grumman), which have established political and procurement advantages.

• Subject to strict government regulations, particularly in AI-driven autonomous warfare.

Anduril IPO potential

IPO Intentions and Timing

• Founder’s Strategy: Palmer Luckey has expressed interest in taking Anduril public but remains strategic in timing the IPO based on market conditions.

• Market Timing: The IPO will be launched when economic and investor conditions are most favorable.

Valuation and Funding

• Current Valuation: $28 billion as of February 2025 (up from $14 billion in August 2024).

• Capital Raises: Recently raised $1.5 billion (August 2024) and is currently securing an additional $2.5 billion in funding.

Growth and Revenue Trajectory

• Revenue Surge: $1 billion in 2024, with projections for further doubling in upcoming years.

• Potential Contracts: Negotiating to replace Microsoft’s role in the IVAS military contract, a deal that could significantly boost revenue and valuation.

Competitive Position and Market Risks

• Defense Industry Disruption: Leading innovation in AI-driven defense, autonomous systems, and scalable production, giving it a high-margin, SaaS-like recurring revenue model.

• Traditional Competition: Faces strong competition from Lockheed Martin, Northrop Grumman, and other established defense giants.

Investor Interest and Potential IPO Valuation

• High Investor Demand: Anduril’s focus on next-gen military technology aligns with U.S. defense priorities, attracting significant investor backing.

• Potential IPO Valuation: If Anduril secures major defense contracts (e.g., IVAS deal), its IPO valuation could reach up to $90 billion.

Anduril Industry Sectors

Primary Industry Sectors

Defense Technology

• Specializes in autonomous defense systems, AI-driven robotics, and advanced surveillance solutions for military applications.

• Key products include Unmanned Aerial Systems (UAS), Counter-UAS (CUAS), autonomous surveillance towers, and battlefield command and control software.

Artificial Intelligence (AI)

• Lattice AI platform integrates sensor fusion, automating battlefield awareness and decision-making in real time.

Surveillance & Security

• Sentry Tower provides long-range surveillance and detection for border security, military installations, and critical infrastructure.

Secondary Industry Sectors

Cybersecurity

• AI-driven surveillance systems enhance critical infrastructure security, supporting cyber-defense applications.

Emergency Response

• Autonomous solutions aid in disaster relief, crisis response, and real-time situational awareness.

Commercial Security

• Anduril’s surveillance and AI-driven security solutions are used for oil and gas pipelines, nuclear power plants, and other high-risk commercial facilities.

Emerging Opportunities

Autonomous Underwater Vehicles (AUVs)

• Developing underwater reconnaissance and surveillance drones for military and commercial use.

Space Technology & Defense

• Producing solid rocket motors for space launch systems and defense applications, expanding into aerospace defense markets.

Anduril Opportunities

Market Expansion & Strategic Growth

• International Expansion:

  • The global defense market ($2.2 trillion in 2022, growing at 5.8% CAGR through 2030) presents vast opportunities for Anduril’s AI-driven autonomous warfare solutions.

  • Potential expansion into NATO and allied markets seeking next-gen military technology.

• Diversification into Cybersecurity & Intelligence:

  • Potential entry into cyber defense, intelligence gathering, and data analytics, complementing its defense AI portfolio.

• Strategic Partnerships:

  • Collaboration with Palantir Technologies integrates Anduril’s Lattice AI autonomy with Palantir’s AI Platform (AIP) for cloud-based military intelligence.

Technological Advancements

• AI & Autonomous Warfare Systems:

  • Growing demand for autonomous combat drones (Fury, Roadrunner UAV) and AI-powered sensor fusion (Lattice platform) in military applications.

• High-Scale Manufacturing Expansion:

  • The Arsenal-1 facility in Ohio will produce over 50,000 autonomous systems annually by 2035, supporting large-scale military deployments.

Financial & Investment Growth

• New Funding & Valuation Growth:

  • Raising $2.5 billion in funding to increase valuation to $28 billion, fueling expansion into new technologies and markets.

• Revenue & Profitability Surge:

  • 2024 revenue: $1 billion (double from 2023).

  • Projected revenue: $2 billion by 2026, with 40-45% gross margins.

Anduril Leadership

Founders & Executives

• Palmer Luckey - Founder

• Brian Schimpf – Co-Founder & CEO

• Joseph Chen – Co-Founder

• Matt Grimm – Co-Founder & COO

• Trae Stephens – Co-Founder & Executive Chairman

Senior Leadership

• Babak Siavoshy – Chief Financial Officer (CFO)

• Brittany Marien – Chief of Staff, Engineering

• Andrew Keene – Chief of Staff

• Benjamin Poole – Chief Software Architect

• Scott Goldstein – Chief Scientist

Anduril stock

Anduril stock price source: IPO CLUB Valuation at Market©

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Is Anduril a public company?

No, Anduril is a private companies, owned by the founders, among which Palmer Luckey has the biggest share, and the following notable investors:

1. Founders Fund

• Co-founded by Peter Thiel, Founders Fund has been a key investor since Anduril's inception.

• Expected to lead the latest funding round, reinforcing its commitment to the company’s growth.

2. Andreessen Horowitz

• One of the most influential venture capital firms in the technology sector.

• Invests in cutting-edge defense and AI-driven technology, backing Anduril’s autonomous warfare solutions.

3. General Catalyst

• A top venture capital firm with a strong track record in deep-tech and military innovations.

• Supports Anduril’s expansion into global defense markets.

4. Sands Capital

• Co-led Anduril’s $1.5 billion Series F funding round, playing a significant role in scaling its defense technology infrastructure.

• Provides long-term strategic financial backing for Anduril’s high-tech defense initiatives.

5. Valor Equity Partners

• A repeat investor in multiple funding rounds, showing long-term confidence in Anduril’s business model.

• Focuses on growth-stage funding for innovative defense technology.

6. U.S. Vice President JD Vance

• Invested in Anduril during his venture capital career, highlighting the company’s appeal to political and military leadership.

• His involvement signals Anduril’s alignment with U.S. defense priorities and national security interests.

Anduril Funding rounds

2017 – Seed Funding

• Led by Founders Fund, with Brian Singerman spearheading the initial investment.

• Established Anduril’s foundation as a defense technology startup.

2019 – Series B ($120M, $1B Valuation)

• Raised $120 million from Founders Fund, General Catalyst, and Andreessen Horowitz.

• Achieved unicorn status with a valuation exceeding $1 billion.

2020 – Series C ($200M, $2B Valuation)

• Secured $200 million from Andreessen Horowitz and Founders Fund.

• Doubled its valuation to $2 billion.

2021 – Series D ($450M, $4.6B Valuation)

• Raised $450 million from Andreessen Horowitz, 8VC, Founders Fund, General Catalyst, Lux Capital, Valor Equity Partners, and D1 Capital Partners.

• Valuation doubled to $4.6 billion.

2024 – Series F ($1.5B, $14B Valuation)

• Raised $1.5 billion, led by Founders Fund and Sands Capital.

• Used to expand manufacturing capabilities for autonomous weapons systems.

2025 – Planned Series G ($2.5B, $28B Valuation)

• Targeting $2.5 billion, with Founders Fund expected to contribute $1 billion.

• Would double Anduril’s valuation to $28 billion, positioning it as a major defense technology powerhouse.

Anduril unveils Roadrunner & Roadrunner-M

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