A major defense technology company founded by a Silicon Valley entrepreneur is seeking a valuation of up to $60 billion in a new funding round, according to reports familiar with the matter.

The round is expected to raise several billion dollars and includes participation from leading venture capital firms.

The funding effort follows a large financing round completed less than a year ago, when the company secured $2.5 billion at a significantly lower valuation.

Investor interest reflects growing demand for advanced defense systems amid rising global security concerns.

The timing of the fundraising comes as defense-focused startups face increased scrutiny over government contracts and supply-chain risks.

Recent disputes between AI firms and the U.S. government have highlighted tensions between national security priorities and private-sector technology development.

The company’s founder has publicly expressed support for government oversight in defense matters, arguing against excessive influence by private corporations over national security infrastructure.

If completed at the projected valuation, the round would position the firm among the most valuable private defense technology companies globally.

Source: TechCrunch