Epirus, a Torrance-dependent startup that sells “directed-energy” weapons that can choose down drones, lifted a $200 million Collection C funding round to even further develop its protection devices.
The new funding gives Epirus a post-offer valuation of $1.35 billion, it said Tuesday, and normally takes its overall cash elevated to $287 million considering that it launched in 2018. T. Rowe Price Associates led the round and was joined by traders 8VC, Bedrock, Broom Ventures, EPIQ Money Team, Gaingels, Basic Dynamics Land Units, I Squared Cash, Moore Strategic Ventures, Parkwood, Piedmont Cash Investments, Purple Mobile Companions and StepStone Team.
Epirus opened a new 100,000-sq.-foot headquarters in Torrance past drop that properties around 150 personnel. At the time, the business said it had grown its workforce 200% in the past 12 months and was opening satellite workplaces in both of those Hawthorne and the Washington, D.C. suburb of McLean, Va.
Graphic courtesy of Epirus
The startup’s technological know-how has found traction in an period when drone warfare has turn into ever more pervasive. Epirus develops microwave energy-driven weapons, like its Leonidas item, that can detect and zap drones out of the air. It has now gained contracts from the U.S. Air Drive, the Defense Innovative Study Assignments Agency (DARPA) and the Army Programs Laboratory. In January, Epirus partnered with Common Dynamics Land Systems, one of its investors, to integrate the Leonidas with Stryker armored automobiles made use of by the U.S. Army.
Epirus competes with larger names in the aerospace and defense sector like Raytheon and Kord Systems, which jointly secured a $124 million agreement to increase laser protection programs to Stryker autos last yr. Boeing and Normal Atomics are also establishing a 300-kilowatt, ground-based laser system for the Military to focus on airborne threats.
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