Epirus is a defense technology startup that develops designated energy systems, securing $250 million in Series D funding. The oversubscribe round was led by venture firm 8VC and Washington Harbor Partners LP. The General Dynamics Land System is also a general Dynamics tank building unit for defense giants, and also participated in Rays.
The Torrance, California-based startup will use fresh capital injections to expand production of anti-drone weapons, designed to reduce unmanned aviation threat amid increasing global demand.
Epilus did not disclose its latest valuation, but in the previous funding round it was valued at $1.35 billion after raising $200 million.
This investment comes when demand for advanced weapons is rising. The war in Ukraine has urged defense contractors to strengthen production, and Epirus is no exception. Last year, the company signed a $66 million contract to provide the flagship system, Leonidas, to the US Army.
Founded in 2018 by Bo Marr, Joe Lonsdale, John Tenet, Max Mednik, and Nathan Mintz, Epirus is a developer of software-defined electromagnetic pulse (EMP) technology designed to remove unmanned aerial vehicles systems (UAS). The company’s technology addresses threats such as drones and other asymmetric technologies, allowing defenses to destroy drones with a hard reset or knock out swarms from the sky.
“I am grateful to newly returned investors who shared our vision of redefineing the future of power. Lee Madden, CEO of Epilus, said:
Over the past 20 years, rebel groups, including the Islamic state, have transformed ready-made drones into makeshift weapons and used them to attack commercial and armored vehicles. The widespread availability of low-cost drones puts pressure on defense systems and to find alternatives to traditional air defense, such as surface-to-air missiles.
Epilus develops microwave-based weapons that can disable drones. Drones have been raising interest as traditional air defense struggles to keep up with the surge in unmanned systems.
With a fresh capital, Epilus will expand its role in the next generation of war and establish itself as a key player in the fight against drone-based threats.
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