Defense Tech Signals · Capital vs. Contracts Open-source analysis · public data only Data as of Nov 8, 2026 · obligations refresh every other Monday
NatSec100 #38

Defense Unicorns

Recipient: DEFENSE UNICORNS, INC. · UEI VVNBQBAWMBG8

About $1.05 raised for every $1 obligated. 92% of it came through prime contracts.

Capital raised
$172.0M
Federal obligations, FY2020–FY2026
$163.7M
Raised per $1 obligated
1.1×
Latest valuation
$1.0B
Series B, Jan 2026 (">$1B")

Obligations by fiscal year

$M
0 FY20 0 FY21 9.0 FY22 23.2 FY23 33.8 FY24 44.9 FY25 52.7 FY26

Prime contracts Other Transactions Subawards

Contract mix

Prime contracts
$151.3M
Other Transactions
$12.4M
Subawards
$0

Cite this: Defense Tech Signals, "Capital vs. Contracts: Defense Unicorns," data as of 2026-11-08, https://data.defensetechsignals.com/c/defense-unicorns/.

Coverage: prime contracts, IDVs and grants (USAspending), direct Other Transactions (FPDS) and subawards received, FY2020–FY2026. Not included: consortium OTs, FY 2027 so far, loans and classified work. Capital raised: Compiled from announcements and press (Oct 2026). Obligations last refreshed 11/5/2026.