Accel Supports Defense Technology Startup Chaos Industries with a $2 Billion Valuation
A new generation of defense technologies is essential to addressing the national security challenges of today.
Accel is co-leading a $275 million funding round for Chaos Industries, a defense tech company offering communications and radar products. The new funding for Los Angeles-based Chaos, a Series C round, will value the company at $2 billion. New Enterprise Associates also co-led the round. “The future of our national security relies on access to advanced defense technologies and investment in their development,” said Chaos CEO John Tenet. “The latest funding round reflects our company’s dedication to this mission.”
The funding is part of a series 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. According to Crunchbase, defense tech companies raised $3 billion in 2024.
Established in 2022 by cofounders John Tenet (Epirus and 8VC), Dr. Bo Marr (Epirus and Raytheon), Gavin Hood (Palantir and UK Secret Intelligence Service), and Brett Cummings (8VC and Formation 8), Chaos has developed communications, radar, and sensor technologies for military use. The company has released limited details about its capabilities, but has indicated that its commercial radar system, Vanquish, could be used for early warning and tracking of drones, missiles, and aircraft. These capabilities could be relevant for the Trump administration’s plans for a Golden Dome to protect the U.S. against missile strikes and other threats.
Under Marr and Tenet, the company has yet to announce any significant contracts. Chaos raised $145 million six months ago, in a round also led by Accel. Other investors include 8VC, Overmatch Ventures, and Lerner Enterprises.
Accel has recently increased its presence in the defense tech ecosystem alongside investors like 8VC, Andreessen Horowitz, and Founders Fund. The firm has supported multiple defense contractors, including Helsing AI and Scale AI. This Tuesday, Accel announced it was leading a $260 million funding round for space security company, True Anomaly.