Epirus Funding: Defense Startup Eyes $150M+ Raise, Valuation Cut Possible

Epirus Secures New Funding

Epirus, a defense technology company, is currently in the process of securing a new round of funding. Reports indicate the raise will be between $150 million and $200 million.

This funding round is being spearheaded by 8VC, the venture firm established by Joe Lonsdale. The investment could value Epirus at approximately $1 billion.

Valuation Adjustment

Should the $1 billion valuation be finalized, it represents a reduction from the company’s prior valuation of $1.35 billion. Epirus declined to provide comment regarding this information to Bloomberg.

Company Origins and Previous Funding

Founded in 2018, Epirus was co-created by Joe Lonsdale, alongside Bo Marr, Max Mednik, Nathan Mintz, Grant Verstandig, and John Tenet.

To date, the startup has attracted substantial investment, totaling nearly $300 million. Investors include firms such as DCVC and Bedrock, as detailed by PitchBook.

A Leading Defense Tech Unicorn

Epirus is recognized as one of a limited number of American defense technology companies to achieve unicorn status.

Other prominent companies in this category include Anduril, Shield AI, and Rebellion Defense.

Future Funding Outlook

The extent of defense funding in 2025 remains uncertain. It is yet to be determined whether it will match the significant levels observed in the previous year.

Last year, startups within the defense sector collectively secured nearly $3 billion in funding by November.

The development of technology to intercept drones is a core focus for Epirus.