Lockheed Martin has announced that it is doubling the size of its venture fund, raising it to $400 million.
The fund, which has already made 11 investments in 2022 and 70 0verall since its founding in 2007, is focused on start-ups in the defense sector. “We’re helping our customers adopt disruptive, cutting-edge technologies faster to keep Americans and our allies ready for what is ahead,” the company wrote on its webpage.
“In 2021 alone, Lockheed Martin Ventures screened more than 1,000 start-up companies that are leading advancements in the areas such as artificial intelligence, autonomy and robotics, cyber security, and quantum computing,” said Chris Moran, Vice President and General Manager of Lockheed Martin Ventures.
The fund touted numerous 2021 exits including:
- Aeva which produces sensors to help autonomous vehicles get a multidimensional view of the road;
- IonQ which is leading the way in quantum computing by using trapped ion technology; and
- Terran Orbital Al that is industrializing small satellite production and building the world’s most advanced earth observation constellation.