finance
Venture Funding for Defense Startups Reached $29 Billion in 2025
Venture capital directed at defense-focused companies totaled $29 billion last year. The figure is nearly three times the amount recorded in 2020.
May 28, 1:07 PM·1m read1 source
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Venture funding for defense-focused startups reached $29 billion in 2025, according to data from S&P Global Market Intelligence. The total is nearly triple the level reported for 2020. The number of venture transactions rose from 414 in 2020 to 629 in 2024.
The S&P Global report attributed the increase to ongoing geopolitical volatility and the war in Europe. 89 trillion in 2025, according to figures cited by Reuters. Anduril Industries and Shield AI are among the startups that have drawn investor attention amid higher defense budgets. The report did not quantify how much of the funding increase is tied to specific regional conflicts.
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