Acquisitions, Mergers & PartnershipsDefenseMoney & Funding

Fortify raises $12.5 million in funding

From investors including Lockheed Martin Ventures and RTX Ventures

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Fortify, a leading full-stack materials science and AM company, has raised $12.5 million in a funding round, from investors including Lockheed Martin Ventures (the plan to do this was reported at the end of last year) and RTX Ventures, the venture capital arms of Lockheed Martin and Raytheon Technologies, respectively. This strategic investment will enable Fortify to expand its capabilities and accelerate the development of its Digital Composite Manufacturing (DCM) platform.

Fortify raises $12.5 million in funding from investors including Lockheed Martin Ventures and RTX Ventures (Raytheon Technologies).
Fortify’s FLUX CORE 3D printer.

Fortify’s DCM platform revolutionizes the manufacturing of complex structures by offering unique mechanical, electrical, thermal, and electromagnetic properties. The platform has garnered significant interest across more than 50 Fortify partners and customers in digital tooling, medical devices, electronics, aerospace, and defense. Key customers in the A&D space beyond Lockheed and Raytheon Technologies 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,” said Lawrence Ganti, CEO of Fortify. “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.”

Fortify raises $12.5 million in funding from investors including Lockheed Martin Ventures and RTX Ventures (Raytheon Technologies).
A composite part built with Fortify Fluxprint technology for magnetic 3D printing.

“Lockheed Martin Ventures’ continued investment in Fortify underpins the strategic advantage the company can bring to the defense industrial base,” said Chris Moran, Vice President and General Manager of Lockheed Martin Ventures. “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.”

“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,” said 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,” said Eric Wolford, Partner at Accel, and an early investor in Fortify.

Fortify has previously raised funding from Accel, Cota Capital, Neotribe, Prelude, Mainspring, and Ocean Azul. 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 AM.

Research
Composites AM 2024

746 composites AM companies individually surveyed and studied. Core composites AM market generated over $785 million in 2023. Market expected to grow to $7.8 billion by 2033 at 25.8% CAGR. This new...

Edward Wakefield

Edward is a freelance writer and additive manufacturing enthusiast looking to make AM more accessible and understandable.

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