Epirus Raises $200 Million at $1.35 Billion Valuation

Epirus is a start-up that develops power management solutions and directed energy systems to support both commercial and government markets. The company positions itself as the leader in the defense technology space and develops a base for technology commercial application.

The funding round Series C was led by T. Rowe Price Associates, Inc with support from 8VC. Among other participants were Bedrock, Broom Ventures, EPIQ Capital Group, Gaingels, General Dynamics Land Systems, I Squared Capital, Moore Strategic Ventures, Parkwood, Piedmont Capital Investments, Red Cell Partners, and StepStone Group.

Epirus, based in Los Angeles, was founded by Bo Marr, Grant L. Verstandig, Joe Lonsdale, John Tenet, Max Mednik, Nathan Mintz in 2018. Epirus’s flagship product is Leonidas, which is a software-defined high-power microwave system. The product portfolio also has a portable and modular HPM system, Leonidas Pod. Together these two products create a system against electronic threats, for example, hostile drones. “These funds position Epirus to further disrupt an industry in desperate need of change and invention. Epirus’ SmartPower platform will transform a broad range of defense and commercial applications by saving power, extending the range, and increasing reliability,” said Grant Verstandig. In recent years Epirus increased its team twice and opened a new headquarter in Torrance, California.

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