Defense startup Epirus is in talks to raise more than $150 million, potentially cutting cost

Defense technology startup Epirus has reportedly raised between $150 million and $200 million in a new funding round led by Joe Lonsdale’s venture firm 8VC. Bloomberg reports. The round could value the company, which develops technology to intercept drones, at about $1 billion. If this is the final valuation, it would be a reduction from the company’s previous valuation of $1.35 billion. (Epirus did not comment to Bloomberg.)

Lonsdale founded the company in 2018 with Bo Marr, Max Medney, Nathan Mintz, Grant Verstandig and John Tenet. According to PitchBook, the startup has already raised nearly $300 million from investors like DCVC and Bedrock. It’s also one of several American-based defense tech unicorns, along with companies like Anduril, Shield AI and Rebellion Defense.

Time will tell if defense funding in 2025 will reach last year’s high, when space startups earned nearly $3 billion. until November.