Chaos Industries, a counter-drone radar manufacturer, raised $510 million in funding led by Valor Equity Partners, bringing its valuation to $4.5 billion. This surge in investment reflects the increasing interest in emerging military technology companies amid global tensions and drone warfare developments.

Investors have poured nearly $30 billion into defense tech firms this year, leading to the rise of multibillion-dollar valued companies like Anduril, Saronic, and Shield AI. Valor CEO Antonio Gracias, known for his ties to Elon Musk, is joining Chaos’ board, emphasizing the company’s potential in the market.

Chaos has secured a $2 million contract with the U.S. Air Force and anticipates more contracts in the near future. With a focus on detecting drones from long distances, the company’s technology is crucial in the current defense landscape shaped by drone threats and the need for advanced radar systems.

Chaos’ founder, John Tenet, aims to establish the company as a key player in defense technology, with notable additions to the team including former CIA officer Will Hurd and George Tenet, former CIA director and banking chairman. The company’s strategic vision aligns with the growing demand for cutting-edge defense solutions in a rapidly evolving military landscape.

Read more at Yahoo Finance: Exclusive-Counter-drone radar firm Chaos raises $510 million in defense tech boom