Anduril Industries raised $5 billion in a Series H at a $61 billion valuation—double its value from less than a year ago—bringing total capital raised to $11.4 billion and following a March $20 billion, 10-year US Army contract and involvement in a $185 billion missile defense program. The broader defense-tech fundraising surge, with nearly $13.6 billion raised through mid‑May and major rounds for Shield AI ($2B), Saronic ($1.75B), True Anomaly ($600M) and Sierra Space ($550M), signals accelerating venture capital into national security and space security infrastructure and could divert investor attention and fundraising away from crypto startups, affecting funding and adoption dynamics.

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Defense tech startup Anduril Industries said Wednesday that it has raised another $5 billion in funding at a $61 billion valuation — double the valuation of $30.5 billion it received less than a year ago.

The Series H round, led by Andreessen Horowitz and Thrive Capital, brings the Costa Mesa, California-based company’s total raised to date to $11.4 billion, per Crunchbase. The funding comes amid record venture investment into startups developing defense, wartime and national security technologies and a Trump administration push to modernize the U.S. military.

Just through mid-May, defense-related startups — defined by Crunchbase as the industries of military, national security and law enforcement — have raised nearly $13.6 billion this year, per Crunchbase data. That puts them on track to more than double the already record-breaking total of $8.8 billion raised in 2025, when Anduril was by far the sector’s largest venture capital recipient.

“When we founded Anduril in 2017, defense was not a category that attracted significant venture investment,” company CEO and co-founder Brian Schimpf said in a statement. “That has changed meaningfully over the last several years. Investors have increasingly recognized the scale of the technological and industrial challenges facing the United States and its allies. They are also observing an environment in which the most agile, adaptive, and ambitious companies are the ones most capable of solving these challenges.

In March, Anduril signed a $20 billion, 10-year contract with the US Army to supply software and weapons. It also announced that it was part of a group of companies building the $185 billion Golden Dome missile defense system for the U.S. government.

After Anduril, several other defense-tech startups, all based in the U.S., have received sizable investments this year:

Shield AI: In March, San Diego-based Shield AI secured $2 billion in fresh funding led by Advent International and JPMorgan Chase. The startup develops AI pilots and autonomous aircraft systems for military applications and has raised more than $3.5 billion overall, per Crunchbase data.
Saronic: Austin, Texas-based Saronic said in March that it has raised $1.75 billion in a Series D led by Kleiner Perkins. The startup builds unmanned surface vessels for naval and defense use and has now brought in nearly $2.6 billion in total funding.
True Anomaly: Centennial, Colorado-based True Anomaly said last month that it has raised $600 million led by Eclipse and Riot Ventures as investors continue pouring capital into space-security infrastructure. The company develops spacecraft and orbital defense systems and has raised more than $1 billion to date, per Crunchbase.
Sierra Space: Commercial space company Sierra Space said in March that it had raised $550 million in funding led by LuminArx Capital Management. The startup develops commercial space stations, satellite systems and the reusable Dream Chaser spaceplane for cargo and defense-related missions. The company, based in Louisville, Colorado, has now raised roughly $2.2 billion overall, according to Crunchbase.