Home / Business and Economy / Palmer Luckey's Firm Seeks Billions in New Funding
Palmer Luckey's Firm Seeks Billions in New Funding
4 Mar
Summary
- Defense tech company seeks multi-billion dollar funding round.
- Previous funding round secured $2.5 billion at $30 billion valuation.
- Luckey supports government stance on AI supply chain risks.
Palmer Luckey's defense-technology company is currently navigating a substantial funding round, potentially raising billions of dollars. Thrive Capital and Andreessen Horowitz are reportedly leading this investment, with Lux Capital and Founders Fund also expected to participate.
This potential new capital follows a Series G round closed in June, which brought in $2.5 billion at a $30 billion valuation. The company's previous funding efforts were noted by Bloomberg, which indicated a possibility of up to $8 billion in capital.
The timing of this funding round occurs during a sensitive period for defense startups. Following a contract dispute, the U.S. government is considering canceling contracts with an AI company and assessing supply chain risks. Luckey has publicly aligned with this governmental scrutiny regarding outsourcing critical power.
