Fortify – a leading full-stack materials science and additive manufacturing company – announced that it has raised $12.5 million in a funding round from investors, including Lockheed Martin Ventures and RTX Ventures, the venture capital arms of Lockheed and Raytheon Technologies, respectively. This investment will enable Fortify to expand its capabilities and accelerate the development of its groundbreaking Digital Composite Manufacturing (DCM) platform.
Fortify’s DCM platform is revolutionizing the manufacturing of complex structures by offering unique mechanical, electrical, thermal, and electromagnetic properties. And the platform has garnered significant interest across more than 50 Fortify partners and customers in digital tooling, medical devices, electronics, aerospace, and defense. The 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.
Fortify raised funding from Accel, Cota Capital, Neotribe, Prelude, Mainspring, and Ocean Azul. And these investors continue to support the growth of Fortify through follow-on investments. With this latest funding round, Fortify is poised to strengthen its position as a leading innovator in materials science and additive manufacturing and has the potential to unlock new possibilities in advanced materials and manufacturing technologies, and transform industries across the globe.
KEY QUOTES:
“We are thrilled to have Lockheed Martin Ventures and RTX Ventures as strategic investors in this funding round. 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.”
— Lawrence Ganti, CEO of Fortify
“Lockheed Martin Ventures’ continued investment in Fortify underpins the strategic advantage the company can bring to the defense industrial base. 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.”
— Chris Moran, vice president and general manager of Lockheed Martin Ventures
“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.”
— Daniel Ateya, President of RTX Ventures
“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.”
— Eric Wolford, Partner at Accel, and an early investor in Fortify
