Rising geopolitical tensions and escalating conflicts have fueled a significant increase in defense technology investments. As nations race to counter evolving battlefield threats, California-based defense tech firm Epirus has secured $250 million in Series D funding to accelerate its expansion and innovation in anti-drone warfare.
Key Investors Backing Epirus
The oversubscribed funding round was co-led by 8VC and Washington Harbour Partners LP, a D.C.-based investment firm. Additional participation came from Gaingels and General Dynamics Land Systems, a subsidiary of U.S. defense giant General Dynamics.
This latest investment brings Epirus’ total funding to over $550 million. Previously, the company raised $200 million in Series C funding, reaching a valuation of $1.35 billion. While the exact valuation for this round has not been disclosed, reports from January suggested it would be lower than the previous round, but still above $1 billion, maintaining Epirus’ unicorn status.
Epirus intends to leverage the fresh capital to expand into international and commercial markets, strengthen its supply chain, and scale up its workforce. Additionally, the company is establishing a state-of-the-art simulation center in Oklahoma, designed to train soldiers in advanced counter-drone warfare strategies.
Meet the Founders Behind Epirus
Founded in 2018, Epirus was established by Joe Lonsdale, John Tenet, Bo Marr, and Nathan Mintz.
- Joe Lonsdale, co-founder of Palantir, is a managing partner at 8VC, one of Epirus’ key investors.
- Bo Marr, former CTO, is an expert in high-power microwave (HPM) technology.
- John Tenet and Nathan Mintz played crucial roles in shaping the company’s strategy and product development.
Leonidas: A Game-Changer in Anti-Drone Warfare
Epirus’ flagship product, the Leonidas system, is a high-power microwave (HPM) weapon designed to neutralize drone swarms instantly using electromagnetic pulses (EMP). Unlike traditional anti-drone solutions relying on missiles or jamming, Leonidas eliminates threats without collateral damage. The system is versatile and can be mounted on military vehicles or used as a stationary defense platform, making it a critical asset in modern warfare.
The U.S. Army has recognized Epirus’ potential, awarding the company a $66 million contract in 2023 to integrate Leonidas into its defense systems. This deal underscores the increasing importance of electronic warfare solutions in countering drone threats.
Epirus is part of a rapidly expanding defense tech market, where several companies are achieving unicorn status:
- Anduril: A leader in AI-powered surveillance, missile defense, and autonomous warfare systems. Its Lattice OS AI platform coordinates battlefield operations, while its autonomous drones, Ghost and Roadrunner, provide real-time reconnaissance. Valued at $28 billion, Anduril has secured multi-billion-dollar contracts with the U.S. Department of Defense (DoD) and border security agencies.
- Shield AI: Specializing in AI-driven flight software, Shield AI enables military aircraft and drones to operate autonomously without GPS. Its Hivemind system is being integrated into F-16 fighter jets, allowing autonomous combat missions. The company recently raised $300 million, reaching a valuation of $2.8 billion.
- Saronic: Focused on maritime defense, Saronic develops AI-powered autonomous ships and underwater drones for surveillance and combat missions. With a $4 billion valuation, the company collaborates with the U.S. Navy to enhance maritime security.
- Mach Industries: Pioneering hydrogen-powered weapons, drones, and combat vehicles, Mach Industries is developing next-generation energy-efficient warfare technologies. The company is reportedly raising funds at a valuation exceeding $1 billion, with growing ties to the U.S. military.
Why It Matters: The Growing Demand for Anti-Drone Technology
The anti-drone market is booming, driven by escalating conflicts in Ukraine, the Middle East, and the Red Sea, where drone warfare has become a dominant military strategy. Governments are ramping up defense budgets, prioritizing electronic warfare and autonomous defense systems.
With drones playing an increasing role in modern combat, the need for effective countermeasures is more critical than ever. Epirus’ electromagnetic pulse technology offers a unique edge, positioning the company as a key player in the next generation of military defense solutions.
