Defense Tech Startup Epirus Raises $250 Million to Scale Anti-Drone Weapons

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Epirus, a defense technology startup, has raised $250 million in its Series D funding round to scale up the production of its anti-drone weapons. The company did not disclose its valuation for this round, though it was previously valued at $1.35 billion during its Series C funding, which raised $200 million.

The timing of this funding comes amid a surge in demand for defense technologies following Russia’s invasion of Ukraine nearly three years ago. Epirus secured a $66 million contract in 2023 to supply its flagship anti-drone system, Leonidas, to the U.S. Army.

Based in Torrance, California, Epirus specializes in developing weapons capable of destroying unmanned aerial vehicles (UAVs) using advanced technologies like lasers and microwaves.

The oversubscribed round was co-led by venture capital firm 8VC and Washington Harbour Partners LP, with participation from General Dynamics Land Systems, a division of U.S. defense giant General Dynamics. This funding brings Epirus’ total raised capital to over $550 million.

Epirus plans to use the funds to expand into international and commercial markets, strengthen its supply chain, and grow its workforce. The company will also open a new simulation center in Oklahoma to train soldiers in counter-drone warfare.

Nvidia-Backed Cloud Firm CoreWeave to Acquire AI Platform Weights & Biases

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CoreWeave, a cloud infrastructure provider backed by Nvidia, announced on Tuesday its acquisition of the AI developer platform Weights & Biases. The move is part of CoreWeave’s strategy to expand its cloud offerings ahead of its upcoming IPO.

The acquisition will integrate CoreWeave’s infrastructure and managed cloud services with Weights & Biases’ AI platform, which is widely used for training, evaluating, and monitoring AI models. Prominent technology companies such as OpenAI and Meta utilize Weights & Biases’ platform to build and deploy AI applications.

While the financial terms of the deal were not disclosed, sources familiar with the transaction told The Information that the acquisition could be valued at approximately $1.7 billion.

CoreWeave, based in Roseland, New Jersey, has seen significant growth, reporting an eight-fold increase in revenue for 2024. The company is also advancing with its plans to list publicly later this year, with expectations to achieve a valuation exceeding $35 billion in its New York flotation.

CoreWeave’s customer base includes major players like hedge fund Jane Street, as well as tech giants Meta, IBM, and Microsoft.

Musk’s Starlink Denies Intent to Take Over FAA Air Traffic Contract

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SpaceX, the rocket company owned by Elon Musk, has denied media reports suggesting that its Starlink satellite unit intends to take over any Federal Aviation Administration (FAA) telecommunications contract. On Wednesday, SpaceX clarified that Starlink’s role is to potentially serve as a partial solution to the FAA’s aging system.

“Starlink is a possible partial fix to an aging system. There is no effort or intent for Starlink to ‘take over’ any existing contract,” SpaceX stated on X (formerly Twitter). The company further explained that it is working alongside L3Harris Technologies and the FAA to explore how Starlink could enhance aviation safety by upgrading infrastructure.

The FAA confirmed it is testing Starlink systems at various sites as part of a broader effort to modernize the U.S. air traffic control infrastructure, which has been deemed outdated. The Government Accountability Office (GAO) has warned that about one-third of the FAA’s air traffic control systems are unsustainable and in need of urgent replacement.

The FAA emphasized that it is testing Starlink and other technologies through its Telecommunications Infrastructure program, managed under a contract with L3Harris. While reports have suggested that Starlink could potentially replace Verizon’s existing $2.4 billion contract, the FAA has stated that no decision on the contract’s future has been made yet.

The testing of Starlink at FAA facilities, including those in Alaska, Oklahoma City, and Atlantic City, is part of efforts to improve communication systems and restore reliable access to weather information for pilots.

Transportation Secretary Sean Duffy also highlighted that while Starlink could be a part of the solution, it is not the sole answer to the FAA’s modernization needs.