SAN FRANCISCO – Boston-based startup Fortify raised $12.5 million from investors including Lockheed Martin Ventures and Raytheon Technologies’ RTX Ventures. It was the primary joint investment by the enterprise capital arms of Lockheed Martin and Raytheon.
With the extra funding, Fortify plans to speed up development of its Digital Composite Manufacturing platform, which prints composite materials designed right down to the nanoscale for top performance, Karlo Delos Reyes, Fortify co-founder and chief customer officer, told by email.
Fortify technology additively manufactures components for a wide range of applications like satellites and cell towers. Fortify specializes, for instance, in printing lenses to enhance 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’re thrilled to have Lockheed Martin Ventures and RTX Ventures as strategic investors on this funding round,” Fortify CEO Lawrence Gant said in an announcement. “Their expertise and global reach within the aerospace and defense industries can be invaluable in helping us to proceed 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 corporate can bring to the defense industrial base,” Chris Moran, vp and general manager of Lockheed Martin Ventures, said in an announcement. “We imagine Fortify has the potential to deliver tailored solutions not only to the aerospace and defense industry, but a variety of sectors that may profit from their platforms.”
Daniel Ateya, RTX Ventures president, said in an announcement that Fortify “has demonstrated an revolutionary and laser-focused vision that ought to advance additive manufacturing capabilities to the following level. Their DCM platform aligns with our commitment to investing in cutting-edge technologies that may 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.
