Anduril raises $5bn Series H at $61bn valuation
Thrive Capital and Andreessen Horowitz lead the round to expand manufacturing, research and infrastructure for defense-system production.
Capital for production capacity
Anduril announced a $5 billion Series H on May 13, 2026, led by Thrive Capital and Andreessen Horowitz. The financing valued the defense technology company at $61 billion. CEO Brian Schimpf said it would support manufacturing capacity, research and development, and the infrastructure needed to build and deploy systems at scale.
The operating context
Alongside the financing, Anduril published Schimpf’s January investor letter. It reported $2.2 billion in 2025 revenue, more than twice the previous year, and a workforce that had nearly doubled. The letter connected the company’s investment plans to moving developmental systems into production and building the factories and supply capacity needed to sustain that transition.