Total amount raised
$537.6 Millions
Latest funding date
Location
Epirus has successfully raised $250 million in its Series D funding round, following previous rounds that garnered $200 million and $70 million. The company specializes in high-power microwave systems designed for defense applications.
Keep reading to explore the intricacies of Epirus' fundraising journey and the investors backing this innovative platform.
What Is Epirus?
Founded in 2018, Epirus is headquartered in Torrance, California. The company was established by Bo Marr, Grant Verstandig, Joe Lonsdale, John Tenet, Max Mednik, and Nathan Mintz.
Epirus specializes in developing solid-state, software-defined directed energy systems for counter-electronics applications and power management in both defense and commercial sectors. Their technology combines long-pulse high-power microwaves with AI and advanced electronics for electronic warfare.
With a team of 101-250 employees, Epirus is dedicated to solving some of the world's most complex problems through innovative high-power microwave systems and advanced electronics.
How Much Funding Has Epirus Raised?
- Series A
- Amount Raised: $17.4M
- Date: November 2019
- Lead Investors: 8VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial prototypes and secure early contracts.
- Series B
- Amount Raised: $70M
- Date: December 2020
- Lead Investors: Bedrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and expand the team.
- Grant
- Amount Raised: $243K
- Date: November 2021
- Lead Investors: National Science Foundation
- Valuation at Round: Not applicable
- Motivation Behind the Round: To support research and development efforts.
- Series C
- Amount Raised: $200M
- Date: February 2022
- Lead Investors: T. Rowe Price
- Valuation at Round: $1.35 billion
- Motivation Behind the Round: To accelerate growth and enhance product offerings.
- Series D
- Amount Raised: $250M
- Date: March 2025
- Lead Investors: 8VC, Washington Harbour Partners
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To expand into international and commercial markets, grow the team, improve supply chain resiliency, and open a new simulation center in Oklahoma for soldier training.
Total Amount Raised: $537.643M. Current Valuation: Over $1 billion.
Key Investors
- 8VC
- Details: 8VC is a venture capital firm co-founded by Joe Lonsdale, who is also a co-founder of Epirus. The firm is known for its investments in technology and defense sectors.
- Investment Focus Areas: Technology, defense, healthcare.
- Notable Investments: Palantir, Wish, Guardant Health.
- Washington Harbour Partners
- Details: Washington Harbour Partners is an investment firm based in Washington, D.C. They focus on strategic investments in high-growth sectors.
- Investment Focus Areas: Technology, defense, financial services.
- Notable Investments: Specific notable investments are not publicly disclosed.
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm headquartered in Baltimore, Maryland. They manage a wide range of mutual funds and other investment products.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Tesla, Amazon, Google.
- National Science Foundation
- Details: The National Science Foundation (NSF) is a U.S. government agency that supports fundamental research and education in all non-medical fields of science and engineering.
- Investment Focus Areas: Research, education, technology.
- Notable Investments: Specific notable investments are not publicly disclosed.
- Bedrock
- Details: Bedrock is a venture capital firm that invests in early-stage technology companies. They focus on transformative technologies and innovative business models.
- Investment Focus Areas: Technology, software, consumer products.
- Notable Investments: Figma, RigUp, Cameo.
What's Next for Epirus?
Epirus stands at the cusp of significant growth, with opportunities to expand into international and commercial markets. The $250 million Series D funding will enable the company to enhance its anti-drone systems and open a new simulation center in Oklahoma for soldier training. This expansion is poised to solidify Epirus' position in the defense tech industry, which is seeing increased investment and interest.
Future fundraising rounds seem likely as Epirus continues to grow and innovate. However, the company will need to navigate challenges such as maintaining a high valuation and ensuring supply chain resiliency. Competition from other defense tech startups and regulatory complexities in international markets could also pose hurdles. Nonetheless, Epirus' strategic investments and partnerships position it well for future success.
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