Anduril Hits $14 Billion Valuation in New Defense Tech Funding

Defense technology startup Anduril Industries Inc. has raised $1.5 billion in a new funding round and plans to spend hundreds of millions on a new facility to manufacture its rockets, underwater vehicles and other autonomous weapons systems at greater scale and speed.

The deal, which values Anduril at $14 billion, is one of the largest venture capital financings of the year so far, and reflects the company’s success getting government contracts, as well as rising investor enthusiasm for defense technology companies.

Peter Thiel’s Founders Fund and Sands Capital co-led the Series F funding round, which has been in the ...