LOS ANGELES — Epirus announced an oversubscribed $250 million Series D fundraising round, bringing the company’s total venture funding to more than $550 million and positioning the company to scale production of its Leonidas™ product line to meet growing global demand.
Leonidas is a scalable solid-state, high-energy, high-power microwave (HPM) technology for counter-electronics applications that has been proven effective in Department of Defense testing in countering drones, drone swarms, and other electronics.
This investment will enable Epirus to grow and acquire the best talent, improve supply chain resiliency, upgrade internal systems and processes, expand into international and commercial markets, and increase the company’s innovation and manufacturing footprint in the U.S.
The round was led by 8VC and Washington Harbour Partners LP, alongside a deep roster of return investors including StepStone Group, funds and accounts advised by T. Rowe Price Investment Management, Inc., Gaingels, strategic defense partner General Dynamics Land Systems, and new investors including Oppenheimer’s Private Market Opportunities Vista VI Fund, NightDragon, Manhattan Venture Partners, Centaurus Capital LP, and Center15 Capital.
“Our directed EMP is already the best protection against drone swarms today,” said Joe Lonsdale, Epirus Founder and Managing Partner, 8VC. “With our capital and talent and the right partnerships with US DoD to continue to advance Epirus’ technology, it will quickly become critical for defending aircraft, ships and even satellites and space-based platforms—and determinative for the future of warfare.”
“The future of warfare demands defense technologies that are intelligent, agile, scalable, and cost-effective,” said Mina Faltas, Founder and Chief Investment Officer at Washington Harbour Partners. “Epirus is delivering exactly that as the transformative leader in counter-electronics technology, delivering the only field-deployable solution capable of neutralizing drone swarms at scale. As the U.S. faces mounting threats and a strained defense industrial base, Epirus provides a unique asymmetric advantage to fill a critical gap in our national security. We are honored to partner with Epirus as they pioneer the next generation of directed energy capabilities, redefining how we protect our warfighters, civilians, and critical infrastructure.”
