A massive $200 million (£160 million) funding round has taken counter-drone startup Anduril to a total valuation of $1.9 billion (£1.5 billion).
The company, which is backed by Facebook’s first outside investor Peter Thiel, specialises in counter-UAV hardware and software.
With this series C funding round it has nearly doubled its valuation in only 10 months.
The invested money will reportedly go towards research and development, as well as a general expansion of the company as it takes on more employees.
Anduril CEO Brian Schimpf commented: “We founded Anduril because we believe there is value in Silicon Valley technology companies partnering with the Department of Defense.
“In three years we have demonstrated there is a desire for real innovation in defence and hope our work serves as a model for continued collaboration.
“Our business continues to accelerate with a suite of software and hardware products and an expanding roster of customers.”
Anduril was founded in 2017 by Palmer Lucky, and its products include sentry towers, drones and military AI software.
To read more about Anduril’s counter-drone technology, see below: