Andreessen Horowitz is reportedly backing Oculus founder Palmer Luckey’s new border technology startup with $1 billion valuation

Megan Hernbroth

September 11, 2019 8:33 PM

Oculus founder Palmer Luckey has received funding for his new startup, Anduril , that values the company at $1 billion, according to a CNBC report Wednesday .

palmer luckey

The company, which makes technology for a virtual border wall, reportedly received backing from Andreessen Horowitz, one of the most noteworthy venture capital firms in Silicon Valley.
Andreessen Horowitz also backed Oculus before it was acquired by Facebook for $2 billion in 2014 .
Palmer started Anduril after leaving Facebook in 2017 amid reports of his controversial political donations and support of far-right groups.
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Palmer Luckey is back with another billion-dollar business.

The controversial Oculus founder has reportedly received funding that valued his new defense technology startup, Anduril , above $1 billion, according to a CNBC report Wednesday .

The company, which makes technology to deploy and monitor a "virtual border wall," reportedly received backing from Andreessen Horowitz, one of the most noteworthy venture capital firms in Silicon Valley. This comes following reports that Peter Thiel, founder of data mining startup Palantir, also invested an undisclosed amount in Anduril through his venture firm Founders Fund.

Representatives for Andreessen Horowitz and Anduril did not respond to Business Insider's request for comment.

Andreessen Horowitz also invested in Luckey's last startup, VR gaming company Oculus, before it was purchased by Facebook for $2 billion in 2014 . Luckey ran Oculus within Facebook after the acquisition, but left the company in 2017 amid reports of his involvement with far-right political groups.

Anduril is targeting the lucrative but controversial market for government defense contracts, similar to Thiel's Palantir. In the past months, tech giants like Microsoft, Amazon, and Google have all shied away from pursuing deals with the government after employee pressure against the tactics employed by the Trump Administration.

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