Anduril $61B Valuation: Defence Tech's Institutional Moment

Anduril Industries raised $5 billion in a Series H round on 13 May 2026, led by Thrive Capital and Andreessen Horowitz, lifting its valuation to $61 billion, precisely double the figure set eleven months earlier. The company reported 2025 revenue of $2.2 billion, a 100 percent increase year-on-year, and nearly doubled its workforce over the same period. The round arrives days after a Dutch Ministry of Defence counter-drone contract and within weeks of securing a role in the Pentagon's Golden Dome space-based interceptor programme. The capital raise and contract cadence together confirm that Anduril has crossed from venture-backed insurgent to durable institutional platform.