Counter-UAS company Fortem Technologies has announced it has closed a funding round of USD17.8 million led by new key industry investors including Lockheed Martin Ventures, Hanwha Aerospace, and AIM13|Crumpton Venture Partners. Existing investors DCVC and Signia Venture Partners have also contributed additional funds.
According to a company press release:
“The counter-UAS market continues to expand rapidly from a value of 685 million USD in 2019 to an estimated 4.7 billion USD by 2027. In addition, the Advanced Air Mobility market size was estimated at 8.93 billion USD in 2022 and is expected to hit around 45.12 billion USD by 2030. With Fortem’s support in Ukraine fighting suicide drones like the Shahed-136 and protecting world venues such as the World Cup Games in Qatar, the company is seeing this market growth and demand for their unique airspace awareness, security, and defense technology. This investment round will benefit the company’s strategy to be at the leading edge of this growing market.”
“Rapid development and legitimate applications of UAS create an increasingly capable threat when in the hands of bad actors,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures. “Lockheed Martin Ventures’ investment in Fortem Technologies signals our commitment to keeping pace with our customer’s requirements, ensuring the U.S. and its allies stay ahead of ready.”
Joining existing investors such as Boeing, Toshiba, Mubadala Investment Company, Signia Venture Partners, and DCVC, the new investors can also bring key industry insights and product development support as Fortem continues its aggressive growth strategy, said a company statement
For more information
https://fortemtech.com/press-releases/2022-02-21-fortem-closes-funding-round-to-scale-airspace-safety-and-security-capabilities/
