adplus-dvertising
Connect with us

Investment

Defense startup Anduril secures $1.5 billion investment

Published

2 years ago

 on

WASHINGTON — Anduril Industries said Friday it received a $1.48 billion funding boost, raising the value of the defense technology company to $8.48 billion.

Palmer Luckey, who helped design the virtual reality set Oculus Rift, opened Irvine, California-based Anduril in 2017. The company specializes in software development and artificial intelligence.

This latest funding increase — dubbed “Series E” — is credited with “nearly doubling the company’s previous valuation in June 2021,” the company said in a statement. Startup firms go through a series of funding, with what is generally the first or second round dubbed Series A.

Series A money is meant to help pay employees, optimize a startup’s products and develop a marketing strategy, according to the employment website Indeed. If a company survives a period of six months to two years with that early funding, it can then seek Series B funding, and so on.

“The new funding will enable Anduril to accelerate research and development to bring new, cutting edge, autonomous defense capabilities to the market and continue to mature and scale its current business lines with the U.S. Department of Defense as well as U.S. allies and partners,” the company said. “Anduril is building software-defined and hardware-enabled capabilities that solve mission needs with autonomy, today. Autonomous systems will enable the military to operate faster and at greater scale across both tactical and strategic operations.”

The funding was led by Valor Equity Partners, which previously invested in Anduril, with participation from Founders Fund, Andreessen Horowitz, General Catalyst, 8VC, Lux Capital, Thrive Capital, DFJ Growth, Elad Gil, Lachy Groom, Human Capital, Marlinspike, WCM Investment Management, MVP Ventures, Lightspeed Ventures and the US Innovative Technology Fund.

Anduril won a $1 billion contract in January from U.S. Special Operations Command to lead its counter-drone systems integration work. And it’s part of a team lead by American Rheinmetall Vehicles that’s competing to build a replacement for the U.S. Army’s Bradley infantry fighting vehicle.

Chris Martin is the managing editor for Defense News. His interests include Sino-U.S. affairs, cybersecurity, foreign policy and his yorkie Willow.

Source link

Related Topics:
Continue Reading

Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

Published

3 weeks ago

 on

October 16, 2024

By

 

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

S&P/TSX up more than 200 points, U.S. markets also higher

Published

4 weeks ago

 on

October 11, 2024

By

 

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

Published

4 weeks ago

 on

October 10, 2024

By

 

TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending