- The capital will accelerate growth in advanced materials and additive manufacturing.
Fortify, a full-stack materials science and additive manufacturing company, announced a $12.5 million funding round to expand its capabilities and accelerate the development of its ground-breaking Digital Composite Manufacturing platform.
Lockheed Martin Ventures and RTX Ventures, the venture capital arms of Lockheed Martin and Raytheon Technologies, respectively, participated in this round.
Digital Composite Manufacturing Platform
Fortify’s Digital Composite Manufacturing (DCM) platform transforms complex structure manufacturing by providing unique mechanical, electrical, thermal, and electromagnetic properties.
This platform takes a more intelligent and comprehensive approach to composite additive manufacturing. DCM strikes a balance between speed and strength, producing materials that are both strong and tough at faster-than-ever speeds.
More than 50 Fortify partners and customers in digital tooling, medical devices, electronics, aerospace, and defence have expressed strong interest in the platform. Aside from Lockheed and Raytheon Technologies, key customers in the A&D space include In-Q-Tel, the US Department of Energy, Rogers Corporation, Lawrence Livermore National Labs, TTM Technologies, and Ierus Technologies.
“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 defence 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
According to Chris Moran, vice president and general manager of Lockheed Martin Ventures, “Lockheed Martin Ventures’ continued investment in Fortify underpins the strategic advantage the company can bring to the defence industrial base. We believe Fortify has the potential to deliver tailored solutions not only to the aerospace and defence industry, but a range of sectors that can benefit from their platforms.”
“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
Accel, Cota Capital, Neotribe, Prelude, Mainspring, and Ocean Azul have all invested in Fortify. Through follow-on investments, these investors continue to support Fortify’s growth. Fortify is poised to strengthen its position as a leading innovator in materials science and additive manufacturing with this latest funding round, which has the potential to unlock new possibilities in advanced materials and manufacturing technologies and transform industries around the world.
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