In a significant development for defense technology, Epirus, a Los Angeles-based startup, has successfully raised $250 million in its Series D funding round. The investment was spearheaded by 8VC and Washington Harbour Partners, marking a notable trend of substantial funding within the defense sector.

Innovative Technology to Counter Drone Threats

Founded in 2018, Epirus specializes in high-energy, high-power microwave technology designed to neutralize drones and drone swarms, as well as disrupt various electronic systems. The latest funding round also featured a strategic investment from General Dynamics Land Systems, emphasizing the industry’s confidence in Epirus’s innovative solutions.

Although the company did not disclose its valuation post-funding, it has amassed over $550 million in total funding to date, illustrating its significant growth trajectory.

Plans for Expansion and Workforce Growth

Epirus intends to utilize the newly acquired funds to broaden its reach into international markets and commercial sectors, along with increasing its workforce. “With our capital and talent and the right partnerships with the US DoD to continue to advance Epirus’ technology, it will quickly become critical for defending aircraft, ships, and even satellites and space-based platforms—and determinative for the future of warfare,” stated Joe Lonsdale, founder of Epirus and managing partner at 8VC.

Defense Sector Attracts Significant Investment

The large investment in Epirus is not an isolated incident; it reflects a broader trend of increasing financial support for defense technology startups. According to data from Crunchbase, venture capital-backed companies in the defense industry, which includes sectors like military, national security, and law enforcement, attracted $3 billion in funding in 2023—a notable 11% increase from the previous year’s $2.7 billion.

In a related instance, autonomous surface vessel manufacturer Saronic recently raised $600 million in a Series C round led by investor Elad Gil, valuing the company at $4 billion. Saronic, located in Austin, Texas, designs drones that operate on the surface of water for the U.S. Navy.