Defense tech startup Epirus is reportedly raising between $150 million and $200 million in a new funding round led by Joe Lonsdale's venture firm 8VC, according to a Bloomberg report. This new investment could give the company, which specializes in developing technology to intercept drones, a valuation of approximately $1 billion.
Notably, this valuation would represent a decrease from Epirus' previous valuation of $1.35 billion. The company has declined to comment on the matter, leaving the exact details of the funding round unclear. Despite this, the investment is a significant milestone for Epirus, which has already raised nearly $300 million from investors like DCVC and Bedrock, according to PitchBook.
Epirus was co-founded in 2018 by Lonsdale, Bo Marr, Max Medni, Nathan Mintz, Grant Verstandig, and John Tenet. The startup is one of the few American-based defense tech unicorns, joining the ranks of companies like Anduril, Shield AI, and Rebellion Defense. This exclusive group has been making waves in the defense technology sector, attracting significant investments and attention from industry leaders.
The defense tech space has seen remarkable growth in recent years, with startups in the sector scoring almost $3 billion in funding by November 2022. While it remains to be seen whether 2025 will reach the same heights, Epirus' latest funding round is a promising indicator of the industry's continued momentum.
The company's drone interception technology has significant implications for national security and defense strategies. As the use of drones becomes increasingly prevalent, the need for effective countermeasures has grown. Epirus' technology addresses this need, providing a critical solution for military and defense agencies.
With this new funding, Epirus is well-positioned to further develop its technology and expand its reach. The company's decreased valuation, however, may raise questions about the current state of the defense tech market. As the industry continues to evolve, it will be important to monitor Epirus' progress and the broader trends shaping the defense tech landscape.
As the defense tech sector continues to grow and mature, startups like Epirus will play a critical role in shaping the future of national security and defense strategies. With its latest funding round, Epirus is poised to remain at the forefront of this rapidly evolving industry.