Epirus May Raise Over $150 Million at Lower Valuation

Epirus May Raise Over $150 Million at Lower Valuation

Known for its ability to knock drones out of the air, Epirus is a defense-tech startup rumored to be raising between $150 million and $200 million. Joe Lonsdale’s venture firm, 8VC, is expected to lead this round, according to Bloomberg. If everything goes as planned, the company could settle at a valuation of around $1 billion—less than the $1.35 billion it reached before.

Formed in 2018 by a group including Lonsdale, Bo Marr, Max Mednik, Nathan Mintz, Grant Verstandig, and John Tenet, Epirus has already secured about $300 million from investors such as DCVC and Bedrock, based on PitchBook data. The startup is part of a small circle of U.S. defense-tech “unicorns,” meaning it’s a privately held firm valued at a billion dollars or more. Other members of that club include Shield AI, Rebellion Defense, and Anduril.

Even though Epirus hasn’t confirmed any specifics about the new funding, its focus on detecting and disabling drones seems to be attracting interest in the defense world. From military uses to basic package deliveries, drones have become widespread, and experts say Epirus’s approach is increasingly relevant in a world where aerial threats are on the rise.

In the last few years, money directed at defense startups has climbed rapidly—by November 2024 alone, around $3 billion poured into the sector. However, it’s not obvious whether 2025 will see higher numbers or if investors might become more cautious due to worries about the economy. While some believe ongoing global security issues will boost funding for defense tech, others think those concerns might make big checks harder to come by.

Successfully closing this round would give Epirus extra capital to improve its drone-stopping systems and possibly explore new offerings, too. Even if the final valuation is lower than before, snagging more than $150 million is still a big step for a young defense startup. Epirus is likely to keep a prominent spot on the radar for U.S. defense technology, a field that’s gradually evolving as drone threats and countermeasures continue to expand.

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