Lockheed Martin and RTX join $12.5M Fortify funding round

Lockheed Martin Ventures and RTX Ventures, the venture capital divisions of Lockheed and Raytheon Technologies, respectively, and other investors have invested $12.5 million in Fortify, a full-stack materials research and additive manufacturing firm. 

Fortify will be able to increase its capabilities and hasten the development of its Digital Composite Manufacturing (DCM) platform thanks to this significant financing.

Fortify DCM-made component. Photo via Fortify
Fortify DCM-made component. Photo via Fortify.

Fortify’s DCM platform, which offers distinct mechanical, electrical, thermal, and electromagnetic properties, revolutionizes the production of complex structures. More than 50 Fortify partners and clients in the fields of digital tooling, medical devices, electronics, aerospace, and defense have shown a strong interest in the platform. In-Q-Tel, the US Department of Energy, Rogers Corporation, Lawrence Livermore National Labs, TTM Technologies, and Ierus Technologies are a few additional notable clients in the Aerospace and Defence sector in addition to Lockheed and Raytheon 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.”

“Lockheed Martin Ventures’ continued investment in Fortify underpins the strategic advantage the company can bring to the defense industrial base,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures. “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, President of RTX Ventures, added, “The Fortify team 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.”

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.”

Accel, Cota Capital, Neotribe, Prelude, Mainspring, and Ocean Azul have all contributed to Fortify’s funding round. Fortify believes this backing will allow it to open up new avenues for advanced materials and manufacturing technologies and “transform” numerous industries around the world.

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Featured image shows a 3D printed ceramic rocket nozzle printed on the FLUX CORE with Low Shrink Aluminum Silicate (LS-AS) resin. Photo via Fortify.