Epirus, a Los Angeles headquartered counter-electronics startup, has scooped up a cool $200 million in funding to develop countermeasures against potential drone attacks in the US.
The company says it will use the fresh cash infusion to accelerate the development of its government product line that is dedicated to destroying critical electronic components in drones. At the same time, Epirus also hopes to make inroads into new commercial markets such as keeping fans safe at mass gatherings like Sunday’s NFL Super Bowl, protecting critical infrastructure, and managing airport safety.
The news of Epirus’ Series C funding comes just one day after the company launched its latest product: a drone-mountable high-power microwave (HPM) pod, Leonidas, that can be used to fry other drones (pictured above).
With a valuation of $1.35 billion, Epirus has raised $287 million to date.
While announcing the new funding round, Leigh Madden, the CEO at Epirus, was quick to point out that the kind of money being poured into his startup and its associated valuation were “clear signals” of the growing demand for counter-electronics technology.
Grant Verstandig, Epirus executive chairman and cofounder, has also maintained that a solid-state, software-defined, high-powered microwave to disable potentially harmful electronics is one of the most effective ways to counter the growing threat of drone attacks. As Verstandig puts it:
We cannot wait for the loss of human life to become the catalyst for change when technology exists that can stop threats today.
Founded in 2018, Epirus has already been awarded contracts by the Defense Advanced Research Projects Agency (DARPA) and the Army Applications Laboratory. The company further says it has multiple product lines in development to support both government and commercial markets.
Epirus cofounder Joe Lonsdale, who was also the company’s first investor through his firm 8VC, sums up the growth plan by saying:
In just three short years since we founded the company, the team at Epirus has disrupted the status quo with their revolutionary technology, bridging the gap between innovation and establishment. This new round of funding will enable the company to ascend even further – expanding the visionary team, forging new markets, and ultimately creating long-term economic and societal value.
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