The American startup Chaos Industries, which specializes in radars for drone detection, has raised $510 million in a Series D funding round, reports Reuters. The company's valuation has risen to $4.5 billion.
The round was led by the venture capital firm Valor Equity Partners. Chaos Industries develops radars capable of detecting drones and small unmanned aerial vehicles at distances of hundreds of kilometers. Reuters notes that the demand for such technologies has surged sharply following Russia's full-scale invasion of Ukraine.
The company was founded in 2022 and has raised a total of $1 billion in investments. The new funds will be directed towards expanding production and hiring personnel. The company expects to announce a number of contracts with the U.S. military in the coming months. Currently, only one deal worth $2 million with the U.S. Air Force is known.
