Epirus Raises $250M to Combat Drone Swarms | Defense Tech

Epirus Secures $250 Million in Series D Funding

Epirus, a defense technology company focused on counter-drone capabilities, has successfully completed an oversubscribed $250 million Series D funding round, as reported to TechCrunch.

Company Valuation and Funding History

Headquartered in Torrance, California, Epirus was last valued at $1.35 billion following its $200 million Series C funding in 2022. While a precise valuation for this latest round wasn't disclosed, the company confirmed to TechCrunch that it remains above $1 billion.

Earlier reports from Bloomberg in January 2025 suggested the round might be raised at a valuation lower than the previous Series C.

Investment Details

The Series D funding round was jointly led by 8VC and Washington Harbour Partners LP, a Washington, D.C.-based investment firm. Additional investors participating in the round included Gaingels and General Dynamics Land Systems, a division of a major U.S. defense contractor.

With this new investment, the total funding raised by Epirus now exceeds $550 million.

Position in the Defense Tech Landscape

Epirus’ achievement of “unicorn” status – a valuation exceeding $1 billion – places it among a select group of defense technology companies. Comparable firms include:

• Anduril, currently raising funds at a $28 billion valuation.
• Shield AI, reportedly seeking funding at a $5 billion valuation.
• Saronic, which achieved a $4 billion valuation in its most recent funding round.

Leonidas: Epirus’ Core Technology

The company’s primary product, Leonidas, utilizes high-powered electromagnetic pulses to disable drones in operational environments. Epirus has already secured several contracts with the U.S. military, including a $66 million agreement with the Army in 2023.

Joe Lonsdale, co-founder of Epirus and managing partner at 8VC, described Leonidas as the “best protection against drone swarms today” in a statement provided to TechCrunch. It is worth noting that Lonsdale is also a co-founder of Palantir.

Future Plans and Expansion

Epirus intends to allocate the newly acquired funds towards expansion into international and commercial sectors. The company will also focus on strengthening its team, enhancing supply chain stability, and establishing a new training facility in Oklahoma for military personnel.