Anti-Drone AI Startup in Talks for $2 Billion Valuation

Allen Control Systems, a four-year-old startup building an autonomous weapons station that can shoot down drones, is aiming to raise new funding at a valuation of $2B before the investment, according to two people with knowledge of the efforts. The startup is targeting a round size of roughly $200M, the people said. The company’s target valuation would be over 14 times its last round, a remarkable increase even compared to the recent financings of other defense-tech startups. The startup has won some government contracts, including a $2M Defense Department deal awarded in January.