SAN FRANCISCO – Boston-based startup Fortify raised $12.5 million from investors including Lockheed Martin Ventures and Raytheon Technologies’ RTX Ventures. It was the first time the two companies invested in the same startup funding round.
With the additional funding, Fortify plans to accelerate development of its Digital Composite Manufacturing platform, which prints composite materials designed down to the nanoscale for high performance, Karlo Delos Reyes, Fortify co-founder and chief customer officer, told SpaceNews by email.
Fortify technology additively manufactures components for a variety of applications like satellites and cell towers. Fortify specializes, for example, in printing lenses to improve the performance of satellite antennas, Reyes said.
Fortify customers include Lockheed Martin, Raytheon, In-Q-Tel, the U.S. Energy Department and Lawrence Livermore National Labs.
“We are thrilled to have Lockheed Martin Ventures and RTX Ventures as strategic investors in this funding round,” Fortify CEO Lawrence Gant said in a statement. “Their expertise and global reach in the aerospace and defense industries will be invaluable in helping us to continue to innovate and scale our Digital Composite Manufacturing platform.”
Fortify announced a strategic investment from Lockheed Martin in December.
“Lockheed Martin Ventures’ continued investment in Fortify underpins the strategic advantage the company can bring to the defense industrial base,” Chris Moran, vice president and general manager of Lockheed Martin Ventures, said in a statement. “We believe Fortify has the potential to deliver tailored solutions not only to the aerospace and defense industry, but a range of sectors that can benefit from their platforms.”
Daniel Ateya, RTX Ventures president, said in a statement that Fortify “has demonstrated an innovative and laser-focused vision that should advance additive manufacturing capabilities to the next level. Their DCM platform aligns with our commitment to investing in cutting-edge technologies that can deliver significant value to our customers and partners.”
Additional Fortify investors include Accel, Cota Capital, Neotribe, Prelude, Mainspring and Ocean Azul.
Fortify raised $20 million in a Series B funding round in 2021.
Clarification: Lockheed Martin Ventures and RTX Ventures made separate investments in Fortify’s investment round.
