Ramp raised $1.85B led by Dragoneer at a $60B valuation, up from $44B after raising $750M in June, and hits $2B in annualized revenue, up from $1.5B in June (Rebecca Torrence/Bloomberg)

Anduril Industries Inc. has opened a tender offer allowing current and former employees to sell shares at a valuation of approximately $90 billion, according to Bloomberg. The offer, which began on Monday and is scheduled to close on November 9, is capped at roughly $1.3 billion with a share price set at $94.80 each. This represents a significant increase from the company's $61 billion valuation during a May funding round.

The tender is available to employees in 16 countries, marking the first time the company has extended such an offer beyond the U.S., UK, and Australia. Co-founded in 2017 by Palmer Luckey, the defense technology startup produces AI-powered products including surveillance tools, autonomy software, unmanned fighter aircraft, and augmented reality helmets.

Investing.com reports that the company generated $2.2 billion in revenue last year and lists the U.S. Defense Department as one of its largest customers. Major backers include Thrive Capital, Andreessen Horowitz, and Founders Fund, which includes Anduril co-founder Trae Stephens as a partner.

Brief written by urgent.news from Techmeme, Investing.com — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.