Epirus, Inc. Raises $70M in Series B Funding, Advancing Directed Energy For Defense and Commercial Applications
Summary
LOS ANGELES--(BUSINESS WIRE)--Epirus, Inc., a high growth technology company that is rapidly developing and building software defined high-powered microwave (HPM) applications for the defense and commercial sectors, has announced $70M in Series B financing led by Bedrock Capital. Today’s announcement is a direct reflection of the company’s projected growth and continued momentum as a major player in the commercial power and defense space, following a strategic supplier agreement with Northrop Grumman Corporation (NYSE: NOC) earlier this year. “Epirus counters the weak assumption baked into standard VC models that the economic and cultural gaps of defense-focused investments are too wide to overcome,” said Geoff Lewis of Bedrock Capital. “We’re very excited to invest in a company that has quickly translated its transformative ideas into scalable technology with broad market potential across the defense sectors. In the coming years, Epirus is set to expand our footprint throughout Los Angeles, Virginia and the Midwest, spurring job creation and investment in the states’ economies.