US defense start-up Anduril in talks to raise $8B
What's the story
US-based defense technology start-up Anduril Industries is in talks to raise up to $8 billion in a new funding round, according to Bloomberg. The company is looking for a valuation of at least $60 billion. The funds will be used to set up its first major weapons-manufacturing facility and develop an autonomous fighter jet.
Valuation increase
Funding to help pursue ambitious projects
The latest funding round would nearly double Anduril's valuation from $30.5 billion in June last year. The company had raised $2.5 billion at that time. This new round of investment would give Anduril more flexibility to finance its ambitious projects, including the establishment of a major weapons-manufacturing facility and the development of an autonomous fighter jet.
Market position
Rise of Anduril in defense-tech space
Anduril Industries has made a name for itself in the defense-tech space with its range of sensors and drones. The company's prominence has grown amid calls for affordable autonomous defense products. It has become one of Silicon Valley's hottest defense bets, especially as drones are changing the landscape of warfare in Ukraine and the push for advanced technologies to counter China.