Fortem Technologies Secures $17.8 Million in Funding to Expand Airspace Safety and Security

Fortem Technologies, a leading provider of airspace awareness, security, and defense, announced today that it has successfully completed a funding round of $17.8 million. The round was led by new key industry investors such as Lockheed Martin Ventures, Hanwha Aerospace, and AIM13|Crumpton Venture Partners, while existing investors Signia Venture Partners and DCVC also contributed additional funds. The capital infusion will enable Fortem to meet growing demands across multiple regions and market sectors in the airspace safety and security industry.

The Counter-UAS (Unmanned Aerial System) market continues to expand rapidly, projected to grow from a value of $685 million USD in 2019 to an estimated $4.7 billion USD by 2027. Additionally, the Advanced Air Mobility market is expected to reach $45.12 billion USD by 2030, with a market size of $8.93 billion USD in 2022. Fortem’s technology is well-positioned to capitalize on this growth and demand, especially in light of the company’s support in Ukraine fighting suicide drones like the Shahed-136 and protecting venues such as the World Cup Games in Qatar. This investment round will benefit Fortem’s strategy to remain at the forefront of the growing airspace awareness, security, and defense market.

“Rapid development and legitimate applications of UAS create an increasingly capable threat when in the hands of bad actors,” said Chris Moran, Vice President and General Manager of Lockheed Martin Ventures. “Lockheed Martin Ventures’ investment in Fortem Technologies signals our commitment to keeping pace with our customers’ requirements, ensuring that the U.S. and its allies stay ahead of ready.”

“We are very pleased to invest in Fortem, a leading dual-use counter-UAS provider,” said a representative from Hanwha Aerospace. “The unique low collateral solution developed by Fortem will contribute to the growth of the c-UAS market globally and help to address the evolving UAS threats. Hanwha Aerospace is excited to support Fortem’s growth through the investment and continue to bring tremendous value across the sector.”

The investments from industry-leading companies such as Lockheed Martin Ventures and Hanwha Aerospace represent a significant endorsement for the growth and opportunity that Fortem is seeing in the Counter-UAS and Advanced Air Mobility marketplaces. In addition to existing investors such as Boeing, Toshiba, Mubadala Investment Company, Signia Venture Partners, and DCVC, the new investors can bring key industry insights and product development support as Fortem continues its aggressive growth strategy.

“We are extremely excited to be working with such respected companies in this funding raise,” said Jon Gruen, CEO of Fortem Technologies. “Not only does this investment help us address our rapidly growing market demand, but the level of support and industry experience these companies bring allows us to tap into unparalleled business, technical, and industry knowledge.”

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