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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.

Atos to Launch Reverse Stock Split Amid Investor Confidence Push

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French IT company Atos (ATOS.PA) will proceed with a reverse stock split, set to take effect by May 1, in an effort to restore investor confidence. CEO Philippe Salle confirmed the decision on Wednesday, stating that the board will finalize approval in the coming days before initiating the process. The move follows a major financial restructuring last year, which significantly diluted shareholder value.

The reverse split was overwhelmingly approved at a general meeting in January. Atos shares have plummeted to historic lows, now trading at approximately one-third of a cent, after completing a 233-million-euro ($248.49 million) capital increase.

The company reported an annual revenue decline of 5.4% to 9.58 billion euros, missing previous forecasts. Market weakness and contract terminations contributed to the downturn. However, Atos highlighted a recovery in order intake, securing significant contracts such as a 165-million-euro extension with Eurotower and a deal to construct Finland’s latest national supercomputer.

Atos, once valued at 10 billion euros, now has a market capitalization of 600 million euros following governance instability and a failed restructuring attempt. While the company has not issued a 2025 outlook, Salle is set to outline his vision and mid-term strategy at the Capital Markets Day event on May 14.

The French government remains in exclusive negotiations to acquire Atos’ advanced computing segment, deemed critical for national defense. This division includes supercomputers essential for France’s nuclear deterrence and military communications.

Salle, who took over as CEO last month—Atos’ sixth in two years—reaffirmed that no additional asset sales would take place in 2025. “We’re not going to rip the group apart,” he stated, citing a strong cash position of 2.2 billion euros. He also dismissed any plans to raise the asking price for Atos’ mission-critical systems business, despite increasing military expenditures in Europe.