Anduril Industries is in talks for a new funding round that could raise the valuation of the Palmer Luckey-founded defense technology startup to $28 billion, sources said on Friday. Tech billionaire Peter Thiel's Founders Fund is set to lead the round,

Defense technology startup Anduril Industries Inc. is in talks to double its valuation to more than $28 billion with a new funding round that would raise $2.5 billion, according to a person familiar with the matter.

Anduril has signed a term sheet to raise up to $2.5 billion at a valuation of $28 billion, according to sources close to the company.