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.