Epilus, a defense technology startup specializing in anti-drone systems, has raised an over-registered Series D of $250 million, telling TechCrunch.
Torrance, California-based Epirus was previously valued at $1.35 billion in the 2022 $200 million Series C, as announced at the time. Epilus gave no specific ratings for this round, but confirmed that TechCrunch is over $1 billion. (Bloomberg reported in January 2025 that Epilus was upping this round with a lower rating than Series C.)
Series D was co-led by DC-based investment companies 8VC and Washington Harbor Partners LP. Other investors include Gaingels and General Dynamics Land Systems, a subsidiary of one of the largest defense contractors in the United States.
This brings Epiros' total to more than $550 million. Unicorn status is placed among a relatively small number of defense engineers in that league. In addition to Anduril raising at a $28 billion valuation, there's Shield AI, which is reportedly raising at $5 billion, and Saronic, which is worth $4 billion in the latest round.
Epilus' flagship product is Leonidas. Leonidas beams high-speed electromagnetic pulses with drones as they travel through the battlefield. Epilus has won numerous US military contracts, including a $66 million army contract from 2023, according to its website.
Joe Lonsdale, one of Epilus' co-founders and one of 8VC's managing partners, promoted Leonidas in a statement sent to TechCrunch as “the best protection against today's drone herd.” (Lonsdale is also the co-founder of Palantir.)
Epilus says it plans to use the funds to expand into international and commercial markets. The company also said it would invest in team growth, improving supply chain resilience, and opening a new simulation center in Oklahoma to train soldiers.