Utah-based counter-drone specialist Fortem Technologies has landed $17.8 million in new funding to scale and meet the growing demands across multiple regions and market sectors in airspace safety and security. Key industry investors in the round include Lockheed Martin Ventures, Hanwha Aerospace, and AIM13|Crumpton Venture Partners. Existing investors DCVC and Signia Venture Partners have also contributed funds.
Fortem has been dominating news circles lately for its support in Ukraine, fighting suicide drones like the Shahed-136 and protecting venues of international importance, such as the FIFA World Cup games in Qatar. The company says it is seeing a continued uptick in market growth and demand for its unique airspace awareness, security, and defense technology, which includes an interceptor drone called DroneHunter. (Pictured above.)
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Talking about the new funding round, Fortem CEO Jon Gruen is quick to point out that investments from industry-leading companies such as Lockheed Martin Ventures and Hanwha Aerospace represents a significant endorsement of the growth and opportunity the company is seeing in the counter-drone and Advanced Air Mobility (AAM) marketplace. Here’s Gruen:
Not only does this investment help us address our rapidly growing market demand, but the level of support and industry experience these companies bring allows us to tap into unparalleled business, technical, and industry knowledge.
At the same time, Chris Moran, vice president and general manager of Lockheed Martin Ventures, stresses that rapid development and legitimate applications of drones create an “increasingly capable threat” when in the hands of bad actors. “Lockheed Martin Ventures’ investment in Fortem Technologies signals our commitment to keeping pace with our customer’s requirements, ensuring the US and its allies stay ahead of ready,” says Moran.
A representative from Hanwha Aerospace adds, “We are very pleased to invest in Fortem, a leading dual-use counter-drone provider. The unique low collateral solution developed by Fortem will contribute to the growth of the c-UAS market globally and help to address the evolving drone threats.”
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