Fortify, an architected materials science and additive manufacturing company, has raised $12.5 million in a funding round from investors such as Lockheed Martin Ventures and RTX Ventures, the venture capital arms of Lockheed Martin and Raytheon Technologies, respectively. Last year, Lockheed Martin Ventures invested an undisclosed amount in Fortify to support the development of its DCM platform. Prior to that, the company secured funding in 2019 and 2021.
The company said it has already raised funding from Accel, Cota Capital, Neotribe, Prelude, Mainspring, and Ocean Azul. These investors continue to support the growth of Fortify through follow-on investments.
With this additional capital, Fortify will continue the development of its Digital Composite Manufacturing (DCM) platform. While attracting customers across the globe, the company specifically ambitions to unlock new material possibilities that will lead to new applications across industries.
The platform has garnered significant interest across more than 50 Fortify partners and customers in digital tooling, medical devices, electronics, aerospace, and defense. Key customers in the A&D space beyond Lockheed and Raytheon Technologies include: In-Q-Tel, US Department of Energy, Rogers Corporation, Lawrence Livermore National Labs, TTM Technologies, and Ierus Technologies.
“We are thrilled to have Lockheed Martin Ventures and RTX Ventures as strategic investors in this funding round,” said Lawrence Ganti, CEO of Fortify. “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. We are excited to work together to drive the next generation of advanced materials and additive manufacturing.”
Eric Wolford, Partner at Accel, and an early investor in Fortify, was pleased to have Lockheed Martin Ventures and RTX Ventures join the team. “This investment from Lockheed Martin Ventures and RTX Ventures confirms the potential behind the Fortify technology platform. It is my understanding that this is the first time these two A&D giants have co-invested. So, this is a big win for the company and a strong validation.“
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