Accel is leading a $275 million funding round into Chaos Industries, a defense tech company that sells a suite of communications and radar technologies.
Accel is leading a $275 million funding round into Chaos Industries , a defense tech company that sells a suite of communications and radar products, another major bet for the firm on emerging defense companies.
The new funding for Los Angeles-based Chaos, a Series C round, will value the company at $2 billion, multiple people with knowledge of the deal told“The future of our national security hinges upon our access to advanced defense technologies and our willingness to invest in their development,” Chaos CEO John Tenet toldin a statement, confirming the funding round. “The latest funding round demonstrates our company’s commitment to this mission.” Chaos and New Enterprise Associates did not immediately respond to a comment request. Accel declined to comment. The funding, which has not previously been reported, is the latest in a string of high profile venture rounds announced by Silicon Valley-backed defense tech companies this year, including a $600 million round for autonomous boat company Saronic, and $250 million for electronic warfare company Epirus. In February,Launched in 2022 by cofounders Tenet, Bo Marr, Gavin Hood and Brett Cummings, Chaos has developed a suite of communications, radar and sensor technologies for military use. It has released relatively few details about its capabilities, but has said its commercial radar system Vanquish could be used for early warning and tracking drones, missiles, and aircraft — capabilities that could be attractive for the Trump administration’s plans for a so-called Golden Dome to protect the U.S. against missile strikes and other attacks. Under Marr and Tenet, who previously led Epirus, the company has yet to announce any major contracts; Tenet declined to comment on the company’s contracts. Chaos raised $145 million just six months ago in a round also led by Accel. Other investors include 8VC and Overmatch Ventures. Accel has recently shouldered its way into the defense tech ecosystem alongside investors like 8VC, Andreessen Horowitz and Founders Fund. The firm has backed multiple defense contractors, including Helsing AI and Scale AI. On Tuesday, Accel announced it was also leading a $260 million funding round for space security company True Anomaly. “It's going to take a new generation of defense technologies to address the complex national security challenges we face today,” partner Steve Loughlin said in November after leading Chaos’ last funding round.
Defense Tech Pentagon Golden Dome Trump Administration Chaos Industries NEA 8VC
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