PANews reported on May 13 that US defense technology company Anduril announced the completion of a $5 billion Series H funding round, valuing the company at $61 billion post-money. The round was led by Thrive Capital and a16z. In a letter to investors, CEO Brian Schimpf stated that the company aims to generate $2.2 billion in revenue by 2025, having nearly doubled both revenue and headcount in the past year. The company has already delivered its first international project to the Royal Australian Navy and completed an autonomous flight demonstration in the US Air Force's unmanned combat aerial vehicle (UCAV) program. Anduril stated that it will focus on increasing investment in high-capacity manufacturing, AI and autonomous systems, the Lattice sensing and command and control platform, and the Arsenal-1 factory and ArsenalOS production system to address the changing defense needs in the context of "industrialized warfare" and great power competition.