Funding round
Epirus Series C
Epirus, which works in advanced electronics solutions development in Torrance, raised $200M in a Series C round announced on 15 Feb 2022, led by T. Rowe Price Associates, Inc. and 8VC, at a $1.35B post-money valuation. 13 firms took part. It is Epirus' third venture round on record; the one before was a Series B in Dec 2020.
$200M
Amount raised
$1.35B
Post-money valuation
$1.15B pre-money
13
Investors
2 leads
15%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Epirus at $1.35B after the new money. The $200M bought investors about 15% of the company. It came 14 months after Epirus' Series B. It is 37% of the $537M Epirus has raised in the venture rounds on record. Epirus raised again 37 months later: a Series D round of $250M in Mar 2025.
Epirus' funding rounds
Epirus has 4 venture rounds on record and 1 other deal. This one is highlighted.
- Series A 1 Jan 2019, led by 8VC $17M
- Series B 17 Dec 2020, led by Bedrock and L3Harris Technologies $70M
- Grant not a venture round 1 Dec 2021 $243K
- Series C this round 15 Feb 2022, led by T. Rowe Price Associates, Inc. and 8VC $200M$1.35B post-money
- Series D 4 Mar 2025, led by 8VC and Washington Harbour $250M
Investors
Who put money in
T. Rowe Price Associates, Inc. and 8VC led the round with 11 other firms.
Lead investors
- T. Rowe Price Associates, Inc. new investor
- 8VC new investor
Also in the round
- backs 38 venture-backed companies new investor
- backs 20 venture-backed companies new investor
- EPIQ Capital Group new investor
- Gaingels backs 364 venture-backed companies new investor
- General Dynamics Land Systems new investor
- backs 12 venture-backed companies new investor
- Moore Strategic Ventures new investor
- Parkwood new investor
- backs 3 venture-backed companies new investor
- backs 9 venture-backed companies new investor
- StepStone Group new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
10 Series C rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $88M, and this round was 2.3 times the median. The closest in time, other companies' Series C rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Aerospace and Defence | 25 Apr 2022 | $97M | not disclosed | NightDragon |
| Aerospace and Defence | 7 Dec 2021 | $85M | not disclosed | BlackRock |
| Aerospace and Defence | 13 Jun 2022 | $135M | not disclosed | Baillie Gifford and Breakthrough Energy |
| Aerospace and Defence | 18 Oct 2021 | $100M | not disclosed | BOND |
| Aerospace and Defence | 30 Jun 2021 | $46M | not disclosed | Fine Structure Ventures |
| Aerospace and Defence | 18 Oct 2022 | $46M | not disclosed | Scottish National Investment Bank |
| Aerospace and Defence | 14 May 2021 | $24M | not disclosed | not named |
| Astranis Aerospace and Defence | 14 Apr 2021 | $250M | $1.40B | BlackRock |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Epirus raise in its Series C round?
Epirus raised $200M in its Series C round, announced in Feb 2022.
Who led Epirus' Series C round?
T. Rowe Price Associates, Inc. and 8VC led it, with Bedrock, Broom Ventures, EPIQ Capital Group, Gaingels and General Dynamics Land Systems and 6 more.
What was Epirus' valuation at the Series C round?
$1.35B post-money ($1.15B pre-money).
How does it compare with other Series C rounds in Aerospace and Defence?
10 Series C rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $88M, and this round was 2.3 times the median.
Did Epirus raise again after this round?
Yes: a Series D round in Mar 2025 of $250M.