Defense technology company Epirus has raised $250 million in a round of Series D financing led by 8VC and Washington Harbour Partners.
The Los Angeles-based company said Wednesday it will use the capital to advance the production of its Leonidas defense platform, support talent recruitment efforts and expand into commercial and international markets.
“A new era of threats mandates a shift from a ‘1 to 1’ mindset to a ‘1 to many’ way of thinking for short-range air defense, and we are primed to support the Department of Defense in this new way of warfare,” said Epirus CEO Andy Lowery. “This funding will supercharge the manufacturing capability for our Leonidas high-power microwave product line and position us for our next stage of scaling growth.”
With the latest funding, Epirus will also update internal processes and systems, enhance supply chain resiliency and broaden its innovation and manufacturing footprint in the U.S. The company plans to open a simulation facility in Oklahoma by the third quarter of 2025 to provide an immersive training environment for warfighters.
What Is Leonidas?
Leonidas is a software-defined, high-power microwave, or HPM, platform designed to counter unmanned aircraft systems and drone swarms.
The scalable high-energy HPM system features an open architecture and unlimited magazine and uses intelligent power management techniques and solid-state gallium-nitride semiconductors to produce the most energy-dense pulse against a wide range of electronic threats.
“It’s not just the effector that must operate with a ‘1 to many’ mindset—the entire kill chain, from sensors to command and control, must do the same,” said Lowery. “We’ve worked alongside the Defense Department to drive this approach and will continue to support its evolution as the threat landscape evolves.”
Investor Support for Series D Round
The oversubscribed funding round brings Epirus’ total venture funding to more than $550 million and includes return investors, including StepStone Group, Gaingels, General Dynamics Land Systems and funds and accounts advised by T. Rowe Price Investment Management.
New investors that participated in the latest fundraising include Oppenheimer’s Private Market Opportunities Vista VI Fund, Manhattan Venture Partners, NightDragon, Centaurus Capital and Center15 Capital.
