Defense tech startup Anduril eyes $28 billion valuation as it builds massive Ohio facility

Defense technology company Anduril Industries is in discussions to raise up to $2.5 billion in a new funding round, potentially valuing the company at $28 billion. This development comes on the heels of Anduril's recent announcement to build a significant manufacturing facility in Pickaway County, Ohio.

The planned Ohio facility, named "Arsenal-1," will span five million square feet on a 500-acre site near Rickenbacker International Airport. With an investment exceeding $900 million, the project is expected to create over 4,000 jobs by 2035, marking it as the largest single job creation and new payroll initiative in Ohio's history.

The Big Picture

Anduril has seen rapid growth as a key supplier of AI-driven defense systems, including autonomous drones and border security tech. The company’s new Ohio facility, located near Rickenbacker International Airport south of Columbus, will be a centerpiece in its push to scale production.

By the Numbers:

• $28 billion valuation targeted in the latest funding round.

• $2.5 billion in new capital expected to fuel expansion.

• $900 million investment in the Ohio facility.

• 4,000 new jobs in Ohio by 2035, with an average salary of $132,000.

• 5 million square feet of production space across 500 acres at Arsenal-1.

Why Ohio?

Ohio is home to a network of federal and military installations, including Wright-Patterson Air Force Base and NASA Glenn Research Center, which collectively generate nearly $40 billion in economic impact across the state according to JobsOhio.

The state has become a magnet for defense and aerospace investments, thanks to its skilled workforce, strong infrastructure, and proximity to major military and tech hubs. Ohio has already attracted Intel for semicondutors, a Honda-LG joint venture electric vehicles battery plant, and multiple hyperscale data centers to name a few. Anduril’s expansion further cements its status as a high-tech manufacturing powerhouse.

What’s Next

Construction on Arsenal-1 is expected to begin later this year, with production anticipated to start by mid-2026, pending final state and local approvals. Meanwhile, Anduril’s growing valuation could provide additional capital to fuel further expansions and R&D initiatives in Ohio and beyond.