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Defense technology startup Epirus is in the process of securing a substantial amount of funding, estimated to be between $150 million and $200 million. The funding round is being led by venture firm 8VC, founded by Joe Lonsdale, according to a report by Bloomberg. This new investment round could potentially result in Epirus being valued at around $1 billion, a decrease from its previous valuation of $1.35 billion.
Epirus was co-founded in 2018 by Joe Lonsdale, Bo Marr, Max Mednik, Nathan Mintz, Grant Verstandig, and John Tenet. The startup has already raised close to $300 million from investors such as DCVC and Bedrock, as reported by PitchBook. Epirus stands out as one of the few American defense technology companies classified as unicorns, joining the ranks of Anduril, Shield AI, and Rebellion Defense.
Looking ahead, it remains to be seen whether defense funding in 2025 will match the levels seen in the previous year. By November of the previous year, startups in the defense technology sector had collectively secured nearly $3 billion in funding, indicating a strong interest and investment in this area.
