Epirus Defense Startup Negotiates Over $150 Million Funding Amid Valuation Dip

Jimmy Jing

09 Jan 2025 — 1 min read

Epirus Eyes New Funding Round

Defense technology startup Epirus is reportedly in negotiations to secure between $150 million and $200 million in new funding. This round is led by Joe Lonsdale's venture firm, 8VC, and could adjust the company’s valuation to approximately $1 billion, according to Bloomberg. This valuation would represent a decrease from its previous $1.35 billion.

Foundational Beginnings and Growth

Epirus, co-founded by Joe Lonsdale in 2018 alongside Bo Marr, Max Medni, Nathan Mintz, Grant Verstandig, and John Tenet, has raised close to $300 million to date. Notable investors include DCVC and Bedrock, positioning Epirus as one of the few American defense tech unicorns. It stands amongst an elite group that features Anduril, Shield AI, and Rebellion Defense.

Outlook for Defense Funding

The future of defense tech funding in 2025 remains uncertain. In 2024, the sector saw nearly $3 billion in funding by November, a record-breaking achievement spearheaded by companies like Anduril. Whether Epirus’s current funding strategies contribute to similar growth trends remains to be seen.

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