Fortem Technologies has closed a round of financing led by new investors, including Lockheed Martin’s venture arm, Hanwha Aerospace and AIM13|Crumpton Venture Partners, and will use the capital to expand its airspace safety and security capabilities to meet the increasing market demand for its tech platforms.
“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,” Fortem CEO Jon Gruen said in a statement published Tuesday.
Existing investors Signia Venture Partners and DCVC also participated in Fortem’s latest funding round valued at $17.8 million.
Pleasant Grove, Utah-based Fortem works to detect and counter hostile drones through its radar, autonomous drone capture systems and related technologies. The company is also backed by Boeing, Mubadala Investment Company and Toshiba.