Forge Global Holdings has announced that the Department of Defense (DoD) Accelerator Fund, managed by Accuidity Capital Management, has made its first defense sector investment with a $6 million Series A funding round for Baxter Aerospace.
Based in Utah, Baxter Aerospace specializes in advanced manufacturing and aerospace integration, focusing on real-time sensing and resilient communications for defense, intelligence, and emergency response clients.
Baxter’s current initiatives include:
1. Deployable Communications Kits: These kits equip aircraft and field platforms with broadband satellite communications for challenging operations like firefighting and disaster response, utilizing compact terminals linked to low Earth orbit (LEO) networks for U.S. government public safety applications.
2. BA-1 Dragonfly Unmanned Aircraft: This VTOL unmanned aircraft is designed for intelligence, surveillance, and reconnaissance (ISR) with over 12 hours of endurance, enhancing situational awareness in communication-denied areas.
3. Precision Components for Energy Systems: Baxter manufactures custom, high-reliability components for fusion and nuclear energy sectors, catering to defense and critical infrastructure needs.
The DoD Accelerator targets early-stage companies with transformative dual-use technologies and supports them in establishing pathways to defense procurement and impactful field operations.
How the funding will be used: The investment will support rapid production scale-up for the Dragonfly Unmanned Aircraft and the Deployable Communications Kits, expand field operations, and enhance Baxter’s ability to respond rapidly to government demand.
KEY QUOTES:
“The DoD Accelerator was founded specifically to support companies like Baxter—technically capable, revenue-generating, and punching way above their weight in the defense ecosystem. Their forward-deployed communications kits and long-endurance UAS platform solve urgent operational problems for military and government users.”
Scott Bledsoe, DoD Accelerator General Partner
“The DoD Accelerator is the ideal partner as we expand into multiple defense programs. Their experience and deep advisory network are accelerating our next phase of growth as we develop products specifically for the armed forces of the U.S. and our firefighters.”
Michael Baxter, President and Co-Founder of Baxter Aerospace
