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Home / Company / Anduril

Anduril

Last Updated November 21, 2025

Anduril Industries is a defense technology company building autonomous systems and AI-powered command-and-control software for modern militaries and security agencies. Its core platform, Lattice OS, integrates drones, sensors, vehicles, and radars into a unified operating system for multi-domain operations across air, sea, land, and undersea environments. The company’s portfolio includes unmanned combat aircraft, small drones, large autonomous underwater vehicles, modular surface vessels, and surveillance infrastructure, all designed for rapid iteration and scalable production. Anchored by its Arsenal-1 manufacturing facility and backed by leading venture and institutional investors, Anduril is positioned as a software-first alternative to legacy defense contractors in a defense market shifting toward autonomy and AI.
Company Overview: Anduril
Anduril offers exposure to the structural shift in global defense spending toward autonomous systems, AI-enabled decision-making, and software-defined warfare. The company has demonstrated hypergrowth at scale, increasing revenue from approximately $236 million in 2022 to about $1 billion in 2024, while securing marquee contracts with the U.S. Department of Defense, U.S. Border Patrol, and allied nations such as the UK and Australia. Its #1 ranking on the 2025 CNBC Disruptor 50 list highlights both its momentum and the growing recognition of defense technology as a disruptive category alongside sectors like AI and fintech. Unlike traditional defense primes built around long, hardware-centric programs, Anduril emphasizes rapid software updates, modular hardware, and vertical integration across design, manufacturing, and operations. The Lattice OS platform creates an ecosystem effect—once customers standardize on it, they can add new Anduril systems and third-party integrations more easily, increasing switching costs over time. Arsenal-1 enhances this by enabling mass production of autonomous systems and solid rocket motors, supporting both revenue growth and potential margin improvement as volumes scale.
Investment Highlights

Valuation & Growth

  • Current valuation of approximately $30.5B following a $2.5B Series G round in June 2025.
  • Prior valuation of roughly $14B, implying about 2.2x valuation growth in one year.
  • Revenue trajectory from ~$236M (2022) to ~$420M (2023) to ~$1B (2024), representing 138% year-over-year growth in 2024 and roughly 4x growth over two years.
  • Ranked #1 on the 2025 CNBC Disruptor 50 list—the first defense technology company to top the ranking in its 13-year history.

Commercial Traction

  • Government customer base includes the U.S. Department of Defense, U.S. Border Patrol, and international allies such as the UK and Australia.
  • Lattice OS software platform underpins a growing portfolio of autonomous air, sea, land, and undersea systems, driving follow-on and multi-program opportunities.
  • Demonstrated ability to win “urgent need” and rapid-deployment programs where development speed and iteration are prioritized over traditional procurement timelines.

Strategic Assets

  • Arsenal-1: 5M sq ft Ohio manufacturing facility built for scale production of autonomous systems and solid rocket motors, making Anduril the third U.S. supplier in this category.
  • Vertical integration across hardware, software, and manufacturing reduces dependence on slow subcontractor networks and supports faster fielding cycles.
  • Multi-domain product portfolio—air, sea, land, and underwater—provides diversification and positions Anduril to participate in multiple high-priority defense modernization efforts.

Investor Base

  • Backed by leading venture and growth investors, including Founders Fund (with a reported $1B commitment in Series G), Andreessen Horowitz (a16z), and Lux Capital.
  • Institutional investors such as Fidelity Management, Sands Capital, and General Catalyst provide additional validation and capital depth.
  • Combination of contrarian defense-focused VCs and mainstream institutions supports both long-term private growth and a potential future path to public markets.
Product & Technology Leadership

Lattice OS & Software Platform

  • Lattice OS: AI-powered command-and-control platform that integrates drones, sensors, vehicles, radars, and other systems into a unified operating picture for real-time situational awareness and decision-making.
  • SDK & ecosystem: Lattice software development kit and partner programs allow third parties to build applications and integrations on top of the platform, creating ecosystem lock-in and extensibility.
  • Cloud & edge integration: Partnership with Oracle Cloud Infrastructure and edge compute environments brings Lattice capabilities into distributed and contested settings.

Autonomous Air Systems

  • Fury UCAV: Unmanned combat aerial vehicle designed for man–unmanned teaming, providing “affordable mass” to augment crewed fighters and enable large-scale aerial deployment.
  • Bolt-M drones: Smaller autonomous drones and munitions integrated into the Lattice ecosystem for intelligence, surveillance, reconnaissance (ISR), and swarming operations.

Maritime & Undersea Systems

  • Ghost Shark (XL-AUV): Large autonomous underwater vehicle developed for persistent ISR and potential strike roles in contested maritime environments, including scale production in Australia.
  • Copperhead family: High-speed, software-defined underwater vehicles and munitions launched from unmanned platforms, designed for “hundreds to thousands per year” production volumes.
  • Autonomous surface vessels: Modular unmanned surface ships developed with HD Hyundai for U.S. Navy programs, capable of multiple mission sets through open-architecture design.

Surveillance Infrastructure & Manufacturing

  • Sensor towers & networks: Distributed surveillance infrastructure for border security, base protection, and perimeter monitoring, all feeding data into Lattice OS.
  • Arsenal-1 manufacturing: 5 million square foot facility in Ohio built to mass-produce autonomous systems and solid rocket motors using modern, automated processes.
  • Solid rocket motors: Anduril’s move into rocket motor production positions it as the third U.S. supplier, challenging a longstanding industry duopoly and enabling deeper vertical integration.
 Market Position & Strategic Advantage

Usage & Reach

  • Focuses on mission-critical defense and security customers, including the U.S. Department of Defense, U.S. Border Patrol, and allied governments such as the UK and Australia.
  • Operates across multiple domains—air, sea, land, and undersea—so that a single Lattice-based architecture can support a broad range of programs and mission types.
  • Arsenal-1 and international manufacturing (e.g., Australia expansion for Ghost Shark) provide regional production capabilities aligned with key customer geographies.

Differentiators & Moats

  • Software-first model enables rapid updates, iterative development, and modular hardware integration, contrasting with the long program timelines of traditional defense primes.
  • Vertical integration across hardware, software, and manufacturing reduces dependency on multi-layer subcontractor networks and supports faster response to urgent operational needs.
  • Lattice OS functions as a platform and ecosystem, creating switching costs as customers standardize on a common command-and-control and autonomy stack.
  • Multi-domain coverage and manufacturing scale differentiate Anduril from single-platform competitors and smaller startups focused on narrow niches.

Industry Recognition

  • First defense technology company to achieve the #1 spot on CNBC’s Disruptor 50 list (2025), highlighting both growth and the increasing importance of defense modernization.
  • Viewed as a leading example of “Silicon Valley meets defense,” bringing software and AI-centric practices into a historically hardware-led, slow-moving industry.
Financial Opportunity

Market Opportunity

  • Operates in a global defense market where autonomous systems, AI-enabled command-and-control, and distributed sensing are among the fastest-growing budget categories.
  • Aligns with defense modernization efforts emphasizing unmanned systems, “affordable mass,” and software-defined capabilities over legacy, bespoke hardware programs.
  • Demand drivers include border security, counter-drone systems, maritime security in contested waters, and modernization programs among U.S. and allied militaries.

Growth Drivers

  • Revenue expansion from ~$236M (2022) to ~$1B (2024), supported by new program wins, portfolio expansion, and scaling production through Arsenal-1.
  • Lattice OS adoption across additional platforms and customers, increasing software and services revenue and enabling cross-sell of additional Anduril systems.
  • International growth via partnerships and manufacturing expansions in allied nations, particularly where governments are prioritizing autonomous and AI-enabled systems.
  • Vertical integration into solid rocket motors and other defense-critical components, improving control over supply chains and potential unit economics.

Revenue Streams

  • Program and contract revenue from U.S. and allied defense and security agencies for autonomous systems, surveillance infrastructure, and Lattice OS deployments.
  • Software and services revenue tied to Lattice OS licensing, integration, and ongoing upgrades across multi-domain deployments.
  • Manufacturing-driven revenue from volume production of autonomous platforms and solid rocket motors at Arsenal-1 and international facilities.
  • Potential future upside from ecosystem effects around Lattice SDK and third-party integrations, as well as from a possible IPO or additional growth-stage financings.
Company Snapshot

Founded: 2017

Founders: Palmer Luckey and team

Headquarters: Costa Mesa, California, USA

Employees: ~3,500

Sector: Defense technology & autonomous systems

2022 Revenue: ~$236M

2023 Revenue: ~$420M

2024 Revenue: ~$1B (138% YoY growth from 2023)

2-Year Revenue Growth: ~$236M (2022) → ~$1B (2024), ~4x increase

Total Capital Raised: ~$6.26B across six funding rounds

Latest Round: $2.5B Series G (June 2025)

Latest Reported Valuation: $30.5B post-money (June 2025)

Prior Valuation: ~ $14B (one year earlier)

Valuation Increase: ~2.2x in one year ($14B → $30.5B)

CNCB Disruptor 50: #1 ranking in 2025 (first defense tech company to top the list)

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About Anduril

Anduril Industries develops autonomous systems, sensor networks, and AI-enabled command-and-control software for defense and national-security missions. Its core platform, Lattice OS, integrates drones, vehicles, radars, underwater systems, and surveillance infrastructure into a unified operating picture for multi-domain operations across air, land, sea, and undersea environments. The company uses a software-first approach combined with modular hardware, aiming to shorten development timelines and enable rapid upgrades compared to traditional, long-cycle defense programs.

Product areas span unmanned combat aerial vehicles (such as Fury), small drones and munitions (Bolt-M), large autonomous underwater vehicles (Ghost Shark), high-speed underwater munitions (Copperhead), modular unmanned surface vessels, and distributed sensor towers for border and base security—all designed to plug into the Lattice ecosystem. Anduril also operates its Arsenal-1 manufacturing facility in Ohio, a large-scale production site intended to support volume output of autonomous systems and solid rocket motors, positioning the company as a vertically integrated supplier. Founded in 2017 and headquartered in Costa Mesa, California, Anduril works with U.S. and allied defense customers, including the Department of Defense and international partners, and has been recognized for rapid revenue growth and its #1 ranking on the 2025 CNBC Disruptor 50 list.

This profile is based on publicly available information and is provided for informational purposes only. Summit Ventures is not affiliated with Anduril Industries and does not offer or recommend securities; Summit Ventures facilitates introductions through a network of partners.