The Irvine, California-based startup is likely to use the proceeds to further expand development work on drones and other military equipment. The publication cited sources that say the new round is expected to raise funds higher than $200 million and be led by existing investors.
Founded in 2017, Anduril provides artificial intelligence-based technology for the U.S. military and allies. It has expanded development work into reconnaissance drones like Ghost 4 and has booked contracts with the Customs and Border Protection for its AI-based hardware.
In early April, Anduril acquired Georgia-based unmanned aerial systems developer Area-1 to expand its UAS portfolio with the addition of software-defined mission autonomy and intelligent teaming applications.