Rising geopolitical tensions and escalating conflicts have fueled a surge in defense tech investments, as nations race to counter emerging battlefield threats. Against this backdrop, Epirus, a California-based defence tech unicorn specialising in anti-drone technology, has secured $250 million in Series D funding to accelerate its growth.
Who invested in Epirus?
The oversubscribed funding round was co-led by 8VC and Washington Harbour Partners LP, a D.C.-based investment firm, with participation from Gaingels and General Dynamics Land Systems, a subsidiary of U.S. defence giant General Dynamics.
This latest round brings Epirus’ total funding to over $550 million. The company was previously valued at $1.35 billion on raising $200 million Series C funding. While Epirus has not disclosed an exact valuation for this round, it was reported in January that the company is raising this round at a lower valuation than the previous round. Despite this downround, the valuation of Epirus is likely to be above $1 billion.
Expansion plans and global ambitions
Epirus plans to deploy the fresh capital to expand into international and commercial markets, enhance its supply chain resilience, and grow its team. Additionally, the company is set to launch a new simulation centre in Oklahoma to train soldiers in counter-drone warfare.
Who is behind the company?
Epirus was co-founded in 2018 by Joe Lonsdale, John Tenet, Bo Marr, and Nathan Mintz.
Joe Lonsdale is a co-founder of Palantir and managing partner at 8V.C, which has been a key investor in Epirus. Bo Marr is the company’s former CTO and an expert in high-power microwave technology. Both John Tenet and Nathan Mintz were instrumental in shaping Epirus’ early strategy and product development.
Epirus’ Leonidas system is a high-power microwave (HPM) weapon designed to disable and fry drone swarms using electromagnetic pulses (EMP). Unlike traditional anti-drone systems that rely on missiles or jamming, Leonidas neutralises drones instantly without collateral damage. It can be mounted on military vehicles or used as a stationary defense system, providing scalable protection against emerging aerial threats.
$66M contract with the US Army
Epirus’ Leonidas system, which disables drone swarms using high-powered electromagnetic pulses, has positioned it as a major player in electronic warfare. In 2023, the U.S. Army awarded Epirus a $66 million contract to integrate Leonidas into its defense infrastructure.
Competitive battlefield in the US
The company operates in a rapidly growing defence tech market, where a few firms have reached unicorn status:
Anduril: The defence tech giant specialises in AI-powered surveillance, missile defence, and autonomous warfare systems. Its flagship Lattice OS uses AI to coordinate battlefield operations, while autonomous drones like Ghost and Roadrunner provide real-time reconnaissance. With a reported $28 billion valuation, Anduril has secured multi-billion-dollar contracts with the U.S. DoD and border security agencies. Last year, the company closed $1.5 billion in Series F funding at a $14 billion valuation.
Shield AI: The company develops AI-driven flight software that enables military aircraft and drones to operate autonomously without GPS or remote control. Its Hivemind system is being integrated into F-16 fighter jets, making them capable of autonomous combat missions. Shield AI is reportedly raising investment at a $5 billion valuation and works with the U.S. Air Force, Marine Corps, and Special Operations Command. In 2024, Shield AI bagged $300 million in funding at a valuation of $2.8 billion.
Saronic: Saronic is revolutionising maritime defense with AI-driven autonomous ships and underwater drones designed for surveillance and combat missions. Its unmanned surface vessels (USVs) use advanced AI to navigate and respond to threats at sea. With a $4 billion valuation, Saronic is working closely with the U.S. Navy to enhance maritime security and defense capabilities.
Mach Industries: Mach Industries is pioneering the use of hydrogen-powered weapons, drones, and combat vehicles, aiming to create more energy-efficient and sustainable warfare technologies. Its hydrogen-powered missile systems could change the way modern weapons operate, offering higher efficiency and lower detectability. The company is reportedly raising at over $1 billion and has growing ties with the U.S. military for next-gen weapons development.
Why does it matter?
The anti-drone market is booming, driven by conflicts in Ukraine, the Middle East, and the Red Sea, where drone warfare has become a major threat. Governments are increasing defense budgets, particularly for electronic warfare and autonomous defense systems.
With drones becoming a dominant force in modern warfare, the need for effective countermeasures is more urgent than ever. Epirus’ electromagnetic pulse technology offers a unique edge, positioning it as a key player in the next generation of military defense.
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