Defense tech startup Epirus, which specializes in anti-drone systems, has raised an oversubscribed $250 million Series D, it told TechCrunch.
Epirus, based in Torrance, California, was previously valued at $1.35 billion for its $200 million Series C in 2022, rel=”nofollow” href=”https://www.epirusinc.com/press-releases/epirus-raises-200-million-in-series-c-funding”>per its announcement at the time. Epirus did not give a specific valuation for this round, but confirmed to TechCrunch that it is over $1 billion. (Bloomberg reported in January 2025 that Epirus was raising this round at a lower valuation than its Series C.)
The Series D was co-led by 8VC and Washington Harbour Partners LP, a D.C. based investment firm. Other investors include Gaingels and General Dynamics Land Systems, a subsidiary of one of the U.S.’ biggest defense contractors.
This brings the total raised by Epirus to over $550 million. Its status as a unicorn puts it among relatively few defense techs in that league. There’s Anduril, which is raising at a $28 billion valuation, plus Shield AI which is rel=”nofollow” href=”https://www.ft.com/content/ba8d0057-7a5c-47d4-b0ce-b12617305340″>reportedly raising at $5 billion, and Saronic, which was valued at $4 billion in its latest round.
Epirus’ flagship product is Leonidas, which beams high-powered electromagnetic pulses at drones as it moves across the battlefield. Epirus has won a number of U.S. military contracts, including a $66 Army million deal from 2023, rel=”nofollow” href=”https://www.epirusinc.com/press-releases/u-s-army-awards-epirus-66-1m-contract-for-leonidas-tm-directed-energy-system”>per its website.
Joe Lonsdale, one of Epirus’ co-founders and the managing partner of 8VC, touted Leonidas as the “best protection against drone swarms today” in a statement sent to TechCrunch. (Lonsdale is also a co-founder of Palantir.)
Epirus says it plans to use the funds to expand into international and commercial markets. The firm also says it will invest in growing its team, improving its supply chain resiliency, and opening a new simulation center in Oklahoma to train soldiers.
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