Defense tech startup Epirus raises $250M Series D to scale anti-drone weapons production amid rising global threats

Epirus, a defense tech startup that develops directed energy systems, has secured $250 million in Series D funding. The oversubscribed round was led by venture firms 8VC and Washington Harbour Partners LP. General Dynamics Land Systems, the tank-building unit of defense giant General Dynamics, also participated in the raise.

The Torrance, California-based startup plans to use the fresh capital infusion to scale the production of anti-drone weapons designed to take down unmanned aerial threats amid rising global demand.

Epirus didn’t disclose its latest valuation, but in its previous funding round, it was valued at $1.35 billion after raising $200 million.

This investment comes at a time when demand for advanced weapons is soaring. The war in Ukraine has pushed defense contractors to step up production, and Epirus is no exception. The company landed a $66 million contract last year to provide its flagship system, Leonidas, to the U.S. 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 take down unmanned aircraft systems (UAS). The company’s technology addresses threats such as drones and other asymmetric technologies, enabling the defense to stun drones with a hard reset or knock swarms out of the sky.

“I am grateful for our new and returning investors who share our vision for redefining the future of power. Nothing that we achieve as a company would be possible without the extraordinary work and dedication of our most valuable asset: our people,” said Leigh Madden, Chief Executive Officer of Epirus.

Over the past two decades, insurgent groups, including Islamic State, have turned off-the-shelf drones into makeshift weapons, using them to strike commercial ships and armored vehicles. The widespread availability of low-cost drones has put pressure on defense systems to find alternatives to traditional air defenses like surface-to-air missiles, which come with a hefty price tag of up to $3 million each.

Epirus develops microwave-based weapons capable of disabling drones, an area that has drawn increasing interest as traditional air defenses struggle to keep up with the proliferation of unmanned systems.

With fresh capital, Epirus is set to expand its role in next-generation warfare, positioning itself as a key player in the fight against drone-based threats.