HawkEye 360 – the world’s leading defense technology company for space-based radio frequency (RF) data and analytics – recently announced the second and final close of the company’s Series D-1 funding round with an additional $10 million, bringing the total Series D-1 to $68 million.
The investors for the second close included Lockheed Martin Ventures (the venture arm of Lockheed Martin), and company insiders. As part of this funding, HawkEye 360 and Lockheed Martin have signed a strategic cooperative agreement to further the development of end-to-end remote sensing solutions for government and commercial customers, with a particular focus on delivering sophisticated RF intelligence systems globally.
The funding round will be used to develop new space systems and expand analytics that support high-value defense missions. And HawkEye 360 currently has 21 satellites in orbit and plans to move to a new Block 3 satellite architecture starting with Cluster 14. The company is also investing further in AI, data fusion, and multi-intelligence orchestration to better extract value from the large amount of RF data being collected. This goal is to address the increasing demand for tactically relevant RF intelligence.
The initial $58 million in Series D-1 funding – which was announced in July 2023 – was led by funds and accounts managed by BlackRock with additional funding provided by Manhattan Venture Partners and existing investors including Insight Partners, NightDragon, Strategic Development Fund (SDF), Razor’s Edge, Alumni Ventures, and Adage Capital.
KEY QUOTES:
“We are thrilled to join forces with Lockheed Martin, a company with an unparalleled legacy in aerospace and defense. As the premier commercial provider of RF geospatial intelligence, HawkEye 360 continues to innovate in response to the increasing global demand for our cutting-edge technologies. Lockheed Martin’s leadership as a system integrator and their signal processing capability will expand what HawkEye 360 can accomplish as we work together to make the world a safer and more secure place.”
— HawkEye 360 CEO John Serafini
“At Lockheed Martin, we see synergies between our programmatic analytical expertise and HawkEye 360’s commercial RF data generating constellation. HawkEye 360 has the potential to apply highly tailored RF solutions to fit our customers’ mission.”
— Chris Moran, vice president and general manager at Lockheed Martin Ventures
