Anduril Industries in Costa Mesa has closed a new funding round of $2.5 billion, a deal that more than doubles the defense startup’s valuation to $30.5 billion, Executive Chairman Trae Stephens said Thursday.

Defense technology startup Anduril Industries has clinched a valuation of $30.5 billion in its latest funding round where it raised $2.5 billion, the company said on Thursday. This round more than doubled the Palmer Luckey-founded company's valuation,

It also reflects how venture capitalists keep racing into defense tech, after largely ignoring the sector for decades. By the numbers: Anduril announced that its revenue nearly do