Latest news with #SeriesG
Yahoo
15 hours ago
- Business
- Yahoo
Anduril raises $2.5B at $30.5B valuation led by Founders Fund
Founders Fund has led another, enormous round for defense tech startup Anduril with a $1 billion investment as part of a new $2.5 billion raise, the largest check the firm has ever written. Existing investors also piled in, an Anduril spokesperson tells TechCrunch. Anduril has now doubled its valuation to $30.5 billion with this Series G raise. The spokesperson says the round was over 8x times oversubscribed, meaning many more investors wanted to buy than the amount of stock Anduril was selling. Anduril, which makes autonomous weapons and software to control them, says the new funding was raised after the company doubled its revenue in 2024 to about $1 billion. The company is also enjoying a tailwind from being granted the U.S. Army's enormous contract for developing new AR/VR headsets for soldiers. The contract was originally granted to Microsoft with a total $22 billion budget but was reassigned to Anduril in February. That contract is such a big deal, it even caused Anduril founder Palmer Luckey to publicly forgive his former employer Meta last week as the two companies announced a partnership to create devices for the project. Anduril executive chair and co-founder Trae Stephens, who is also a Founder's Fund partner, disclosed the new funding in an interview on Bloomberg Television. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
17 hours ago
- Business
- Bloomberg
Trae Stephens Says Anduril More Than Doubled Valuation
00:00 Congratulations. This is Series G. What are the details? And this seems meaningful for under oath. It is. You know, as we continue working on building a company that has the capacity to scale into the largest problems for the national security community, we thought it was really important to shore up the balance sheet and make sure that we have the ability to deploy capital into these manufacturing and production problems. That's that we're working on. The ground. Ended up being a two and a half billion dollar round at a valuation of 30.5 billion post-money. It's a tremendous opportunity for us to continue growing the team, growing the infrastructure and our ability to really ramp up into these into these bigger problems that sound as fund led the rounds. You have an interesting role as executive chair at and Darrell and I but you recuse yourself from the Founders fund part of that I believe. Right like one of one of if not their biggest check ever. Yeah the largest check and founder on history. We put $1 billion into the two and a half billion dollar round. Okay. Why is this commitment, this necessary money right here, right now, Is this going to be the last one before potential IPO? Oh, man, it's a great question. You know, there are a lot of ways to raise capital. It's not just the possibility of IPO. Obviously, long term. We continue to believe that Andrew, is the shape of a publicly traded company. We're not in any, you know, rapid path to doing that. We're certainly, you know, going through the processes that are required to prepare for doing something like that in the medium term. But right now we're just very focused on the mission at hand, going at this as hard as we can. Does that mean we raised another private round of capital at some point? Maybe Hard to say. You know, we're always surprised that how much demand there is in these massively oversubscribed and how oversubscribed space it was a lot like 8 to 10 X of what we had the capacity to take on. You know, there's a lot of players that are starting to figure out the momentum is drawing into, you know, being able to do this at Andrew. And I think there's just a lot of a lot of interest from growth funds, from crossover funds for mutual funds, for getting a bite of that before there's a public market opportunity. Well, interesting you say getting a bite of the action when it comes more broadly to defense. Suddenly all of Silicon Valley kind of wants to be in defense and in U.S. manufacturing. In fact, was Andrew Bosworth of matter yesterday talking about how maybe there's some bigger patriotism than we realized across Silicon Valley. Just take a listen. There's a much stronger patriotic underpinning that I think people give Silicon Valley credit for. But taking a step deeper, this is this is actually a return to grace for the valley, potentially not just from Meta, but from Google and other companies. The Valley was founded on a three way investment between the military, academics and private industry. That was the founding of it. There would be no technology if we weren't all tasked with the problem of computing naval ballistic trajectories. During the first two world Wars, you have a partnership. The technology that Mehta makes working hand-in-hand with Andrew. Interesting. Of course, that malarkey now goes back to a company that he of course sold Oculus to. In many ways with this partnership, what does it look like in more partnerships going to be eroding, erupting? HIM Well, I mean, to to Bob's point, you know, the world has changed a lot in the last in the last eight years. Andrew actually turns eight years old tomorrow. We're approaching our anniversary, which is the anniversary of D-Day as well. We started the company on the 73rd anniversary of D-Day, recognizing there's an important contribution for not only ourselves but also the American enterprise into national security efforts. You know, Palmer was fired by Metta in 2016 for his politics. You know, those Google Maven walkouts and protests. The reality is, is that the the silent majority actually believes that these things are really, really important to work on. And, you know, Palmer being able to go back to his roots and reach a point of forgiveness with the media team to focus on the most important task at hand, which is leaning in on the best in class optics and VR work that they're doing to contribute to the mission that we're leading with the Ives opportunity with the D.O.D..
Time of India
4 days ago
- Business
- Time of India
Udaan raises $114 million in flat round at $1.8 billion valuation
Representative image BENGALURU: B2B ecommerce platform Udaan has raised $114 million in fresh equity capital as part of its Series G funding round, led by M&G Investments and Lightspeed. The round also saw participation from existing and new investors. The Bengaluru-based company said the funds will be used to deepen its category presence, particularly in FMCG and staples, and expand further into underserved markets. Udaan has secured the latest funding at a valuation of about $1.8 billion, people familiar with the matter told TOI. This makes the funding a flat round, which is when a company's valuation remains the same or nearly the same as the previous funding round. The company had previously raised $340 million in 2023, led by UK-based M&G Prudential, at the same valuation, marking a notable decline from its peak valuation of $3.2 billion in 2021. Founded by former Flipkart executives Vaibhav Gupta, Amod Malviya, and Sujeet Kumar, Udaan has been restructuring its operations since 2022, focusing on profitability amid a more cautious funding environment. The company has reduced its operating scale to manage costs and streamline business priorities. Malviya and Kumar no longer oversee day-to-day operations, with Gupta currently serving as CEO. The latest financing, Udaan said, strengthens its balance sheet as it moves closer to a potential public market listing. This round follows a broader restructuring of the business over the last three years, with the company claiming a 40% annual reduction in Ebitda burn over the same period. Founded in 2016, Udaan operates across verticals including fast-moving consumer goods, pharma, staples, and fresh produce, and claims to hold around 70% of India's eB2B market share. The company said it is pursuing a cluster-led operating model to drive 'profitable growth at scale,' with emphasis on technology-led distribution and private label expansion in staples. The company said it posted over 60% year-on-year revenue growth in calendar year 2024. Contribution margins improved by more than 300 basis points during the year, with an additional 100 basis point gain reported year-to-date in 2025. Fixed costs, the company said, were cut by 20% last year, contributing to overall margin improvements. 'This funding marks a key milestone as we continue our journey towards public markets,' said Vaibhav Gupta, co-founder and CEO of Udaan. 'Our hybrid model combining a digital platform with tech-led sales is proving effective, and we are on track to achieve group-level Ebitda profitability within the next 18 months.' The fresh capital will also be deployed to enhance Udaan's technology stack, including customer engagement tools and sales-tech capabilities. The company currently serves a large network of small businesses, retailers, and suppliers across India, and also offers working capital solutions through its financial services arm, UdaanCapital. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
4 days ago
- Business
- Mint
IPO-bound Udaan raises $114 mn from existing backers M&G Investments, Lightspeed
Bengaluru: Business-to-business e-commerce company Udaan has secured $114 million in a Series G equity fundraising round led by existing backers M&G Investments and Lightspeed Venture Partners. The firm didn't disclose what it was valued at in this fundraising round. The Bengaluru-based company plans to use the fresh capital to expand its range of products, with a focus on the fast-moving consumer goods (FMCG) and hotel, restaurant, and catering (HoReCa) segments. Its existing range of products include electronics, home & lifestyle, and pharmaceuticals. Udaan will also accelerate its private label or in-house brands initiative in the staples category, the firm said in a press statement on Monday. Udaan said it cut its Ebitda burn by 40% annually the last three years and is on track to achieve Ebitda profitability at the group level in 18 months. Ebitda, or earnings before interest, taxes, depreciation and amortisation, is a measure of core operational efficiency. 'Over the last 3 years, we have transformed the business by building cost as a capability and a competitive advantage,' co-founder and chief executive Vaibhav Gupta said in the statement. Founded in 2016, Udaan operates across the FMCG, staples, fruits and vegetables, and pharma categories through its nationwide network of retailers. Udaan also disburses financial products and services to small businesses, manufacturers, and retailers through udaanCapital, a financial technology platform focused on helping business customers meet their working capital requirements. So far, Udaan has raised upwards of $1.95 billion, including $75 million that it secured in February from M&G Investments and Lightspeed in the first round of its Series G fundraise, as per market intelligence platform Tracxn. Mint reported in April last year that Udaan's valuation was reduced by 44% to $1.8 billion in December 2023 when it secured $340 million in a Series E fundraising round, down from a $3.1 billion valuation in 2021. Udaan, which is gearing up for a public market listing in 2026, said it clocked growth of over 60% in terms of contribution margin, which represents a product's profitability, in calendar year 2024. strong contribution margin accretive growth, clocking 60%+ Year-on-Year (Y-o-Y) growth in CY 2024, alongside a 300+ basis point improvement in contribution margin. The company also said it reduced its fixed costs by 20% in 2024, leading to a 40% reduction in Ebitda burn, and by an additional 20% so far in 2025. Udaan hasn't yet filed its financials for 2024-25 with the ministry of corporate affairs. In FY24, Udaan's revenue from operations grew 1.7% year-on-year to ₹ 5,706 crore, while losses fell 19% to ₹ 1,674 crore. In January, Udaan received approval from the National Company Law Tribunal for consolidating its business entities into one entity, called Hiveloop E-Commerce, setting the path for an initial public offering (IPO) of its shares.
Yahoo
14-05-2025
- Business
- Yahoo
Wealthtech provider Addepar lands $230m Series G investment
US-based wealthtech firm Addepar has concluded its Series G funding round, raising $230m at a valuation of $3.25bn. The investment round was jointly led by Vitruvian Partners and returning investor WestCap, with additional contributions from 8VC and Valor Equity Partners. New investor EDBI, part of the Singapore Economic Development Board and Enterprise Singapore, also participated in this funding round. The funds will primarily facilitate liquidity for employees and investors through a tender offer, allowing them to realise the value of their contributions. Additionally, the financing will support investments in 'innovation' and client capabilities. Vitruvian Partners partner Luuk Remmen said: 'We're proud to bring more than capital to this partnership—offering strategic insight to help accelerate Addepar's next phase of global growth and extend its transformative solutions to more investment professionals worldwide." Founded in response to the 2008 financial crisis, Addepar has focused on equipping investment professionals with advanced data, technology, and insights. It aims to set a new benchmark for wealth managers and investors globally. The Addepar platform is utilised by clients to manage and advise on more than $7tn in assets, an increase from $5tn reported last year. The company adds more than $25bn in new assets weekly and serves over 1,200 client firms across more than 50 countries, according to Addepar. Addepar's clientele includes single-family offices, RIAs, large banks, institutional asset owners, and alternative fund managers. The company allocates more than $100m annually towards research and development and anticipates achieving profitability by 2025. Addepar CEO Eric Poirier said: 'This funding aims to reward everyone who has contributed to our mission during our first 15 years, and reinforces our commitment to empowering the world's leading firms with deep and lasting innovation. 'It ensures that our clients are empowered with the right technology, data and tools to navigate the full range of market conditions with confidence.' In September 2024, Addepar partnered with Itaú Private, enhancing the bank's access to Addepar's data aggregation and performance reporting platform in Brazil. "Wealthtech provider Addepar lands $230m Series G investment" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
