Anduril cofounder and CEO Palmer Luckey is launching another startup with a “Lord of the Rings”-inspired name. It already has a hefty price tag.
Erebor, a digital bank aimed at startups and cryptocurrency companies, which might sound a little like the infamous Silicon Valley Bank, is raising at least $225 million at a $2 billion valuation, according to people familiar with the deal.
Founders Fund, the venture firm run by Palantir cofounder Peter Thiel, and 8VC, led by fellow Palantir cofounder Joe Lonsdale, are investing in the company, the people who weren’t authorized to speak publicly on the matter said. The fundraise is ongoing, and details could still change.
8VC, Founders Fund and Palmer Luckey did not respond to requests for comment.
Erebor — like Luckey’s Anduril as well as Lonsdale and Thiel’s Palantir — takes its name from JRR Tolkien’s “The Lord of the Rings.” In the book, Erebor is the…
