Firestorm Labs wins $12.5M in seed funding led by Lockheed Martin Ventures
Firestorm Labs, a California-based Unmanned Aerial System (UAS) manufacturer, has secured $12.5M in seed investment by Lockheed Martin Ventures and other defense investors.
Pointing to “the rapidly evolving needs of…
Firestorm Labs, a California-based Unmanned Aerial System (UAS) manufacturer, has secured $12.5M in seed investment by Lockheed Martin Ventures and other defense investors.
Pointing to “the rapidly evolving needs of a UAS-dominated battlefield and a defense industrial base ripe for revolutionary manufacturing models,“ Firestorm CEO Dan Magy said: ”Our investors understand the pressing need for delivering technologies quickly and with the interoperability that today’s warfighters demand, and we are thrilled to welcome Lockheed Martin Ventures partnership in this mission.“
Firestorm’s xCell line allows for its proprietary, 3D-printed, interconnected, and interchangeable airframe component technology to be manufactured at the edge, an approach the company believes will fundamentally change the nature of warfare for the United States, its partners, and its allies.
Firestorm investors include Lockheed Martin, Decisive Point, Silent Ventures, 645 Ventures, Overmatch VC, BVVC, Marquee Ventures, Cubit Capital, IronGate, Backswing Ventures, The Veteran Fund, Feld Ventures, Beyond Capital, and RedCat.
Firestorm has already won a range of U.S. Department of Defense contracts both for its modular UAS and the xCell manufacturing product line. This new capital will enable Firestorm to scale its team and production to meet growing demands for its products.
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