Defense technology funding reaches new high. Defense technology startups have raised nearly $3 billion through 2024, according to Crunchbase. This surpassed the previous record of $2.6 billion in 2022.
This is an impressive feat, especially considering the declining number of transactions. There were 113 defense technology rounds in 2022, more than 85 rounds in 2024.
The record is held by weapons maker Anduril, which raised $1.5 billion in Series F funding in August, and Saronic Technologies, an autonomous marine vehicle company founded by Anduril alumni who raised $175 million in Series B funding this year. , is gaining momentum with some monster rounds. . Additionally, defense infrastructure startup Chaos Industries raised $145 million in Series B funding this month.
Europe's defense technology scene has grown exponentially this year as well. German AI weapons startup Hellsing raised a whopping $487 million this year. PitchBook also reports a surge in new defense technology ventures based in Europe, including Ukraine's D3 Venture Capital, Lithuania's ScaleWolf, and the UK's Twin Track Ventures.
“We live in an increasingly dangerous world,” Mikolai Filley, general partner of the Europe-based Expedition Fund, told Pitchbook. “Many people now feel a sense of urgency and a sense of duty to use their money and networks to invest in early-stage companies that could change the world and protect us.”
The defense technology boom shows no signs of slowing down. Defense investors and founders say they expect the new White House administration to create more opportunities for startups offering new technologies in everything from space and aviation to weapons and surveillance technology. It is being
“The close relationship between them [vice president-elect] Mr. Vance, Mr. Elon, and the defense venture capital and startup ecosystem will pave the way for true defense acquisition reform and expanded participation,” said Nathan Mintz, co-founder of electronic warfare startup CX2. told Forbes.