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DISPATCH 03/26 · 15 Jul 2026
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Company Dossier

Anduril Industries

Anduril builds AI-autonomous weapons, interceptors, and the Lattice C2 platform for U.S. and allied militaries.

BattlePolicy Research · Updated 12 Jul 2026 · 6 min read
FILE · andurilOpen-source file · BattlePolicy ProStatus PrivateVerified
Anduril Industries
Autonomy & RoboticsUSPrivate
Anduril builds AI-autonomous weapons, interceptors, and the Lattice C2 platform for U.S. and allied militaries.
Founded
2017
HQ
Costa Mesa, CA
Headcount
Nearly doubled YoY through 2025–2026; specific figure undisclosed
Total raised
$11B+ (TechCrunch); $6.82B disclosedBarchart
Valuation
$61BMay 2026, post-Series H
Stage
Private / Pre-IPO

Background

Anduril Industries was founded in 2017 by Palmer Luckey — the Oculus Rift creator — alongside co-founder and CEO Brian Schimpf and several alumni of defense and technology firms.

Luckey's pitch was to build a software-first defense contractor that could out-iterate legacy primes on hardware-software integration.

The core product stack centers on the Lattice AI command-and-control platform, which fuses sensor data for autonomous decision-making and battle management.

Around it sit: Roadrunner and Roadrunner-M, a reusable turbojet interceptor; Bolt-M and Altius 600M-V loitering munitions; the Fury Collaborative Combat Aircraft; Ghost Shark XL-AUV for undersea operations; and Pulsar electronic-warfare systems. Arsenal-1, a roughly $1 billion manufacturing facility in Ohio, is designed to scale production of these systems at volume.

Anduril sells direct to government customers under program-of-record contracts and rapid-acquisition vehicles. The workforce nearly doubled year-over-year through 2025–2026, reflecting simultaneous ramp-up across multiple programs.

🔒 BattlePolicy Pro — the assessment layer continues for members: funding & investors, customers & contracts, leadership, competitive position, battlefield record, and the analyst verdict.

Linked records

Wired to the rest of BattlePolicy — the systems it builds in the Lexicon and the contracts it wins in the Procurement Tracker. This is the part no competitor can copy.

⌖ Lexicon — systems
⌖ Procurement — contracts
⌖ Analysis — coverage

Financial footing Pro

  • $5B Series H (May 2026) at $61B val
  • Arsenal-1 Ohio (~$1B mfg)
  • Barracuda-500M Army missile contract
  • Backers: Founders Fund, Andreessen Horowitz, Thrive Capital

Anduril has raised across eight disclosed rounds. Seed: $17.5M. Series A: $41M. Series B: $127M. Series C: $200M. Series D: $450M. Series E: $1.48B. Series F: $1.5B. Series G: $2.5B (June 2025, valuation $30.5B). Series H: $5B (May 2026), led by Thrive Capital and Andreessen Horowitz, pushing valuation to $61B — a 100% increase in under twelve months.

Total disclosed funding is approximately $6.82B per Barchart; TechCrunch reports cumulative raises exceed $11B when including the full Series H impact. The company remains private, with a pre-IPO timeline targeting late 2026–2027. No revenue or backlog figure has been publicly disclosed. Primary institutional backers include Founders Fund, Andreessen Horowitz, and Thrive Capital.

Major customers & contracts Pro

Joined live from the Procurement & Contracts Tracker — real award/announcement records.

CustomerSystemScale / detailStatus
U.S. Special Operations CommandRoadrunner CUxS Hardware12500000signed
U.S. Special Operations CommandRoadrunner systemsFY2024 budget requesttender
U.S. Department of DefenseRoadrunner-M interceptorsContract includes Roadrunner-M interceptors and Pulsar electronic-warfare systems; more than 500 rounds ordered; specific contracting authority and end-buyer service branches unconfirmedsigned
U.S. NavyRoadrunner-M10-year programme-of-record for destroyer defence; Roadrunner-M specific value unconfirmedframework
U.S. NavyRoadrunner-MIntegration onto Arleigh Burke-class destroyers; initial ship-set quantities and procurement mechanism unconfirmedframework
US Marine CorpsOPF-LIDIQ ceiling for OPF-L programframework
US Marine CorpsBolt-Msmallest of three OPF-L evaluation awardssigned
US Marine CorpsSwitchblade 300 Block 20OPF-L evaluation awardsigned
US Marine CorpsRogue 1OPF-L evaluation awardsigned
US Marine CorpsBolt-Mfor 600+ systems plus ground control components, deliveries Feb 2026 – Apr 2027signed
US Marine CorpsRogue 1for 600+ systems under OPF-L frameworksigned
USAF (United States)CCA Increment 1Contract values for the development phase remain unconfirmed.signed
AustraliaGhost Shark XL-AUVA$1.7 billionsigned
United StatesDive-XL (CAMP)unconfirmedsigned
U.S. ArmyIVAS headsetprogram valuesigned
TaiwanALTIUS 600M-V systems300000000tender
KuwaitAnduril counter-UAS (Anvil-M etc., US FMS)potentialframework

Further disclosed customers & programs (public reporting):

U.S. Special Operations Command awarded a signed $12.5M contract for Roadrunner CUxS hardware, with a separate FY2024 budget tender also on record. The U.S. Department of Defense placed a signed order for more than 500 Roadrunner-M interceptors and Pulsar EW systems under a contract whose specific contracting authority remains unconfirmed. The U.S. Navy holds a 10-year program-of-record framework for Roadrunner-M integration onto Arleigh Burke-class destroyers; ship-set quantities and procurement value are unconfirmed.

The U.S. Marine Corps awarded Bolt-M and Rogue 1 contracts under the OPF-L framework covering 600-plus systems each, with Bolt-M deliveries scheduled February 2026 through April 2027. The U.S. Air Force selected Anduril's Fury for the CCA Increment 1 program; development-phase contract values are unconfirmed. Australia signed an A$1.7B contract for Ghost Shark XL-AUVs. Taiwan has a pending $300M Foreign Military Sale notification for ALTIUS 600M-V systems. The U.S. Army holds an IVAS headset program contract; value unconfirmed.

Leadership & contact surface Pro

Leadership: Brian Schimpf (CEO; founder Palmer Luckey)
Official site: https://anduril.com

Contact policy. BattlePolicy maps roles and official, published channels only — who owns a decision and the front door — never individuals’ personal phone numbers, private emails or home details. This keeps the file GDPR-clean and welcome to the companies we profile.

Competitive position Pro

Against Lockheed Martin and Raytheon Technologies, Anduril competes on software iteration speed and lower overhead — its Roadrunner-M entered program-of-record for destroyer defense faster than traditional acquisition timelines would allow legacy primes — but Anduril lacks the decades-long supply chains and congressional relationships those firms own. Against Shield AI, Anduril holds broader hardware depth across interceptors, UUVs, and loitering munitions, while Shield AI's focus remains narrower on autonomous pilot software.

Against AeroVironment, which dominates small UAS and loitering munitions with Switchblade, Anduril's Bolt-M and Altius 600M-V compete directly in the OPF-L evaluation — the Marine Corps awarded all three systems evaluation contracts, signaling no single winner yet. Against General Atomics in large autonomous aircraft, Anduril's Fury CCA competes for the same Air Force program-of-record dollars. The market is consolidating around two or three software-centric primes; Anduril's $61B valuation positions it to absorb smaller autonomy firms.

Battlefield relevance Pro

No confirmed combat use to date.

Analyst verdict Pro

⌖ Analyst note · editorial draft — not yet re-verified

Anduril's doubling in valuation to $61B within twelve months of its Series G reflects institutional conviction that software-defined weapons manufacturing is a structural shift, not a cycle. The single biggest risk is program-of-record execution: Arsenal-1 must deliver at scale on Roadrunner-M, Bolt-M, and Fury simultaneously — a manufacturing challenge no software-first firm has yet cleared at this complexity.

The competitive moat is Lattice's lock-in as a cross-domain C2 layer; once embedded in a service branch's kill chain, displacement costs are high. Three specific things to watch: first, whether the U.S. Navy formalizes Roadrunner-M destroyer procurement quantities and contract value; second, the outcome of the USAF CCA Increment 1 development phase and any production option trigger; third, the IPO timeline — a late 2026 listing would be the largest defense-tech public offering in history and a liquidity test for the entire sector.

Sources & verification Pro

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