Anduril Raises $5B at $61B Valuation

Anduril raised $5 billion in Series H funding at a $61 billion valuation, more than doubling its worth from the $30.5 billion it achieved just under a year ago. Thrive Capital and Andreessen Horowitz led the round, marking another massive capital injection for the Palmer Luckey-founded defense technology company.

The nine-year-old startup doubled revenue to $2.2 billion in 2025, according to CEO Brian Schimpf’s blog post announcing the raise. Anduril plans to “aggressively” invest the funds in manufacturing capabilities, research and development, and infrastructure to support U.S. defense systems.

Defense Tech Attracts Record VC Investment

The funding represents a dramatic shift in venture capital appetite for defense technology. “When we founded Anduril in 2017, defense was not a category that attracted significant venture investment. That has changed meaningfully over the last several years,” Schimpf wrote.

Shield AI, another U.S. drone company, recently raised $1.5 billion in March 2026, demonstrating the sector’s momentum. The Department of Defense has begun diversifying its contractor relationships, recently selecting Shield AI’s software to work with Anduril’s “Fury” autonomous fighter jet rather than awarding the entire contract to one company.

Anduril has secured multiple contracts in recent weeks, including participation in a “golden dome” space-based missile defense system for the continental U.S., a contract with the Dutch Ministry of Defense, and a U.S. Army battle manager software deal using its Lattice platform.

AI Voice Startup Vapi Reaches $500M Valuation

Vapi raised $50 million in Series B funding at approximately $500 million valuation, led by Peak XV Partners. The AI voice platform startup secured Amazon Ring as a major customer, handling 100% of Ring’s inbound customer calls after Ring evaluated more than 40 competing AI voice vendors.

Ring deployed Vapi’s platform in mid-Q4 2025 during a surge in holiday season customer support calls. Jason Mitura, vice president of software development at Amazon Ring, said customer satisfaction scores improved after implementing Vapi’s system. “A lot of AI tools promise great outcomes — Vapi has delivered on them,” Mitura told TechCrunch.

Founded by Jordan Dearsley and Nikhil Gupta, Vapi evolved from an AI therapy chatbot Dearsley built in 2023. The company now provides voice agent infrastructure for customer support, lead qualification, appointment scheduling, and outbound sales, having processed more than 1 billion calls.

Gates Foundation Backs Microbiome Startup Kanvas

Kanvas Biosciences received new funding from the Bill & Melinda Gates Foundation to develop treatments for environmental enteric dysfunction (EED), a disease affecting 150 million children worldwide in regions with poor sanitation. The condition causes severe gut inflammation that prevents nutrient absorption from food.

CEO Matthew Cheng’s startup is developing synthetic bacterial microbiomes delivered in pill form. Kanvas can incorporate 145 different bacterial strains into a single pill, compared to existing microbiome treatments containing fewer than a dozen strains.

The company, founded in 2020, uses machine learning and spatial imagery to create what Cheng calls a “Google Maps” for the microbiome. The technology identifies promising gut bacteria strains that can work together in bioreactors to address chronic infections from bacteria like E. coli that damage gut lining.

TechCrunch Startup Battlefield Applications Close Soon

TechCrunch’s Startup Battlefield 200 applications close May 27, 2026, offering pre-Series A startups access to $100,000 equity-free funding and exposure to 10,000+ attendees at TechCrunch Disrupt 2026. The competition selects 200 startups globally from thousands of applicants across all industries.

Previous Startup Battlefield participants include Dropbox, Discord, Fitbit, Trello, and Mint. Most selected companies are pre-Series A stage, though select Series A startups may qualify case-by-case. Applicants must demonstrate a functional MVP and clear product demo.

The competition provides direct VC feedback, global visibility through TechCrunch coverage, and networking opportunities with top-tier investors and media representatives.

What This Means

The funding landscape shows clear sector winners emerging in 2026. Defense technology has transformed from a VC afterthought to attracting multi-billion dollar rounds, driven by geopolitical tensions and government modernization efforts. Anduril’s valuation doubling in under a year signals sustained investor confidence in defense tech scalability.

AI infrastructure companies like Vapi are capturing enterprise value by solving specific operational problems rather than pursuing general-purpose AI. Ring’s decision to route all customer calls through Vapi after evaluating 40+ competitors demonstrates the importance of product-market fit over funding rounds or valuations.

Healthcare and global development remain attractive to mission-driven capital, with the Gates Foundation continuing to back novel approaches to persistent global health challenges. Kanvas’s synthetic microbiome approach represents the convergence of biotechnology and AI in addressing diseases affecting hundreds of millions globally.

FAQ

How much has Anduril raised in total funding?
Anduril has now raised over $7.5 billion across multiple rounds since its 2017 founding, with the latest $5 billion Series H bringing its valuation to $61 billion.

What makes Vapi different from other AI voice platforms?
Vapi allows engineers granular control over AI agent behavior in live customer interactions and can handle complex customer support scenarios, leading Amazon Ring to choose it over 40+ competitors.

What is environmental enteric dysfunction and why does it matter?
EED affects 150 million children in regions with poor sanitation, causing gut inflammation that prevents nutrient absorption. There are currently no approved medicines for the condition, making Kanvas’s synthetic microbiome approach potentially significant for global health.