Autonomy, sensing, munitions, and the new primes — private defense technology ranked by valuation, with secondary-market pricing where shares change hands.
| # | Company | Valuation | Secondary $/sh | vs Last Round | Last Round | IPO Status |
|---|---|---|---|---|---|---|
| 1 | Anduril Industries Costa Mesa, CA |
$61Bmark 2026-Q2 | $130.0322d ago | +88.7% | Series H · 2026-05-13 · $5.0B | no imminent plans |
| 2 | Helsing Munich, Germany |
$18Bmark 2026-Q3 | $19.94as of 2026-06-27 | no round comparison | Late Stage · 2026-07-13 · $1.8B | private |
| 3 | Scale AI San Francisco, CA |
$14Bmark 2025-Q2 | $12.20as of 2026-06-27 | -37.9% | Series F + Meta investment · 2025-06-12 · $14B | no imminent plans |
| 4 | Castelion Torrance, CA |
$13Bmark 2026-08-19 | $206.17as of 2026-06-27 | +67.3% | Series C · 2026-08-19 · $800M | no imminent plans |
| 5 | Shield AI San Diego, CA |
$13Bmark 2026-Q1 | $151.51as of 2026-06-27 | -1.5% | Series G · 2026-03-26 · $1.5B | no imminent plans |
| 6 | Saronic Austin, TX |
$9.3Bmark 2026-Q1 | $31.65as of 2026-06-27 | +15.3% | Series D · 2026-03-31 · $1.8B | private |
| 7 | Quantum Systems Gilching, Germany |
$8.0Bmark 2026-01 | $12.07as of 2026-06-27 | no round comparison | Series C Extension · 2025-11-27 · $209M | private |
| 8 | Sierra Space Louisville, CO |
$8.0Bmark 2026-Q1 | $28.2922d ago | -7.3% | Series C · 2026-03-01 · $550M | no imminent plans |
| 9 | Hadrian Torrance, CA |
$7.9Bmark 2026-Q3 | $26.71as of 2026-06-27 | +45.2% | Series D · 2026-08-06 · $1.4B | no imminent plans |
| 10 | K2 Space Torrance, CA |
$6.8Bmark 2026-Q3 | $104.05as of 2026-06-27 | +35.3% | Series D · 2026-07-01 · $500M | private |
| 11 | Applied Intuition Mountain View, CA |
$6.0Bmark 2026-08 | $153.83as of 2026-06-27 | no round comparison | Series F · 2025-06-17 · $600M | none |
| 12 | CHAOS Industries El Segundo, CA |
$4.5Bmark 2025-11 | no secondary mark | — | Series D · 2025-11-01 · $275M | no imminent plans |
| 13 | Skydio San Mateo, CA |
$4.4Bmark 2026-04 | $10.02as of 2026-06-27 | +16.1% | Series F · 2026-04-01 · $170M | no imminent plans |
| 14 | Erebor Columbus, OH |
$4.3Bmark 2025-Q4 | no secondary mark | — | Series A · 2025-12-22 · $350M | private |
| 15 | Relativity Space Long Beach, CA |
$4.2Bmark 2025-Q1 | $10.05as of 2026-06-27 | -55.7% | Series F · 2025-03-01 · $1.7B | no imminent plans |
| 16 | Stoke Space Kent, Washington |
$3.4Bmark 2026-Q1 | $60.51as of 2026-06-27 | +21.2% | Series D-2 · 2026-02-09 · $350M | Private |
| 17 | Cambridge Aerospace United Kingdom |
$3.4Bmark 2026-Q3 | no secondary mark | — | Series C · 2026-08-10 · $300M | private |
| 18 | Park Controls & Communications Bengaluru, India |
$2.9Bmark 2026-01 | no secondary mark | — | undisclosed | private |
| 19 | ICEYE Espoo, Finland |
$2.5Bmark 2025-Q4 | $51.45as of 2026-06-27 | no round comparison | Series E · 2025-12-01 · $158M | private |
| 20 | Neros Technologies Torrance, CA |
$2.5Bmark 2026-08-11 | no secondary mark | — | Series C · 2026-08 · $250M | private |
| 21 | Apex Space Los Angeles, CA |
$2.3Bmark 2026-Q2 | $12.89as of 2026-06-27 | -35.7% | Series E · 2026-06-05 · $200M | private |
| 22 | True Anomaly Centennial, CO |
$2.2Bmark 2026-Q2 | $12.73as of 2026-06-27 | -20.8% | Series D · 2026-04-28 · $650M | no imminent plans |
| 23 | Starcloud Redmond, WA |
$2.2Bmark 2026-04 | $57.02as of 2026-06-27 | no round comparison | Series A · 2026-03-30 · $170M | private |
| 24 | Allen Control Systems | $2.2Bmark 2026-06 | $46.00as of 2026-06-27 | +4.4% | Series B · 2026-06-01 | private |
| 25 | Onebrief Honolulu, HI |
$2.1Bmark 2026-Q1 | $32.71as of 2026-06-27 | -56.8% | Series D · 2026-01-15 · $359M | none |
| 26 | Axiom Space Houston, Texas, USA |
$2.0Bmark 2025-Q1 | $107.53as of 2026-06-27 | no round comparison | Venture · 2025-03-01 · $100M | rumored |
| 27 | Cowboy Space | $2.0Bmark 2026-05 | no secondary mark | — | Series B · 2026-05-01 · $305M | private |
| 28 | Armada | $2.0Bmark 2026-05 | $14.93as of 2026-06-27 | no round comparison | Series B · 2026-05-01 | private |
| 29 | Astranis San Francisco, CA |
$1.9Bmark 2024-Q3 | $22.06as of 2026-06-27 | no round comparison | Series D · 2024-09-01 · $200M | no imminent plans |
| 30 | Mach Industries Huntington Beach, CA |
$1.8Bmark 2026-06 | $2.95as of 2026-06-27 | -18.5% | Series C · 2026-06-01 | private |
| 31 | Destinus Lausanne, Switzerland |
$1.5Bmark 2025-Q2 | no secondary mark | — | Debt facility (Commerzbank) · 2025-12-15 · $55M | rumored |
| 32 | Harmattan AI Paris, France |
$1.4Bmark 2026-08 | no secondary mark | — | Series B · 2026-08-01 · $200M | private |
| 33 | Gecko Robotics Pittsburgh, PA |
$1.3Bmark 2026-01 | $45.22as of 2026-06-27 | -8.2% | Series D · 2026-01-01 · $122M | Private |
| 34 | Impulse Space El Segundo, CA |
$1.2Bmark 2025-Q3 | $74.95as of 2026-06-27 | no round comparison | Series C · 2025-06-11 · $295M | no imminent plans |
| 35 | Epirus Torrance, California |
$1.0Bmark 2025-Q1 | $5.11as of 2026-06-27 | -8.4% | Series D · 2025-03-03 · $250M | Private |
| 36 | Varda Space Industries El Segundo, CA |
$1.0Bmark 2025-Q3 | $26.46as of 2026-06-27 | +29.0% | Series C · 2025-07-15 · $187M | no imminent plans |
| 37 | TAF Industries Kyiv, Ukraine |
$1.0Bmark 2026-Q1 | no secondary mark | — | None | private |
| 38 | Apex Los Angeles, CA |
$1.0Bmark 2025-Q3 | no secondary mark | — | Series D · 2025-09-12 · $200M | private |
| 39 | Apex Los Angeles, CA |
$1.0Bmark 2025-Q1 | $2.00as of 2026-06-27 | +100.0% | Series C · 2025-04-01 · $200M | no imminent plans |
| 40 | Hermeus Atlanta, GA |
$1.0Bmark 2026-04 | $15.00as of 2026-06-27 | -35.8% | Series C · 2026-04-01 · $100M | no imminent plans |
| 41 | Forterra Clarksburg, MD |
$1.0Bmark 2025-11 | no secondary mark | — | undisclosed | private |
| 42 | Radia Boulder, CO |
$1.0Bmark 2022-Q2 | no secondary mark | — | Series B2 · 2022-05-13 · $51M | private |
| 43 | Atmosphere Ramonville, France |
$1.0Bmark 2023-Q1 | no secondary mark | — | Series D · 2023-02-07 · $65M | private |
| 44 | Loft Orbital San Francisco, California |
$954Mmark 2026-Q1 | $17.77as of 2026-06-27 | -28.3% | Series C · 2025-01-13 · $170M | Private |
| 45 | Domino Data Lab San Francisco, CA |
$916Mmark 2025-Q3 | $4.09as of 2026-06-27 | -75.1% | Series F · 2021-10-05 · $100M | private |
| 46 | Rescale San Francisco, CA |
$869Mmark 2025-Q3 | $13.28as of 2026-06-27 | -25.1% | Series D · 2025-04-07 · $115M | private |
| 47 | ZeroAvia Everett, WA |
$684Mmark 2024-Q3 | $8.45as of 2026-06-27 | no round comparison | Series C · 2024-09-12 · $150M | private |
| 48 | ExPace Technology Wuhan, China |
$635Mmark 2017-Q4 | no secondary mark | — | Series A · 2017-12-19 · $182M | private |
| 49 | X-Bow Albuquerque, NM |
$608Mmark 2025-Q2 | $1.00as of 2026-06-27 | -75.5% | Series B · 2025-05-12 · $105M | private |
| 50 | Shift5 Rosslyn, VA |
$590Mmark 2025-Q3 | $0.92as of 2026-06-27 | -6.1% | Series C · 2025-09-03 · $75M | private |
Ranked by tracked Defense Tech portfolio companies — counted from disclosed round participation and each firm's notable holdings, so a firm only appears here if it actually holds companies in this ranking. Full capital-side ranking: Top Private Market Investors by AUM.
By latest disclosed valuation, the largest tracked private Defense Tech companies are Anduril Industries ($61B), Helsing ($18B), Scale AI ($14B), Castelion ($13B), Shield AI ($13B). The full ranking of 85 companies refreshes daily at quantlogix.ai/private/defense-tech.
Ranked by tracked Defense Tech portfolio companies, the most active investors are 8VC (12 tracked), Andreessen Horowitz (11 tracked), Lux Capital (11 tracked), Founders Fund (9 tracked), Y Combinator (8 tracked). Full ranking: Top Private Market Investors by AUM.
Valuations are each company's latest disclosed mark, dated per row; secondary share prices refresh daily (36 of 85 tracked companies currently carry one). Rows without a usable number say so rather than showing zero.
Methodology. Rankings are by each company's latest disclosed valuation (roster + weekly enrichment); the "mark" chip shows when that valuation was set. Secondary share prices are point estimates from secondary-market activity — one implied price per name, no bid/ask — refreshed daily (marks overlay as of 2026-09-06), each carrying its own date. "vs Last Round" compares the secondary price to the company's own last primary round per-share price; rows without a usable comparison say so rather than showing zero. Companies marked acquired, defunct, or public are excluded. Educational data, not investment advice.