Perseus Materials closes strategic investment from Lockheed Martin Ventures
Perseus Materials has closed a strategic investment for an undisclosed amount from Lockheed Martin, one of the largest defense technology companies in the world.
The announcement reinforces what the East Tennessee entrepreneurial ecosystem has known for a long time. Perseus Materials founder Daniel Lee has achieved a new, innovative approach to composite manufacturing. Instead of focusing on tools and molding, Perseus targets the chemistry of the materials before they reach the production line. Its advanced resin chemistry, combined with robotics and custom hardware, helps the company make composite construction faster and cheaper than wood, steel, or concrete.
The process also makes it possible to manufacture parts at virtually any length, including wind turbine blades and ship components.
“We’re not interested in making marginal improvements to 3D printing,” Lee said in a press release. “The fabrication of large, complex, expensive, and time-consuming structures that drive manufacturing cycles requires new approaches to engineering and design. That is why Perseus has developed an entirely new method for additive manufacturing that shapes materials in ways previously thought impossible.”
Perseus propels forward in the composites sector
Lee founded the company in 2022, shortly before enrolling in the 2023 cohort of Oak Ridge National Laboratory’s Innovation Crossroads program. Since then, he has taken Perseus to new heights.
Lee pitched his company multiple times locally in competitions such as Innov865 Startup Day, the PYA Ballard Innovation Award, the Tennessee Advanced Energy Business Council’s Opportunities in Energy event, and even in the highly competitive statewide 3686 startup showcase.
Then, Lee was selected as one of 20 global finalists to present at JEC World 2025, the leading international composites showcase. He went on to become one of three overall winners and won outright in his category, “Process, Manufacturing, and Equipment.”
The recognition signaled international validation and credibility across major industries, including aerospace, energy, and defense.
It put Perseus Materials on the global map, ultimately drawing attention from Lockheed Martin Ventures.
“Our work at Lockheed Martin Ventures supports promising companies that expand the U.S. industrial base and advance innovative technologies for the future of national defense,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures. “Perseus’ innovative composite production process can help accelerate design and prototype manufacturing while reducing costs and eliminating tooling, helping Lockheed Martin accelerate its ability to meet the needs of the Department of War and our nation’s warfighters.”
Perseus was also backed early by Roadrunner Fund and incubated by Roadrunner Venture Studios, the nation’s first venture studio focused on deep technology company creation.
“Perseus is exactly the kind of company Roadrunner exists to build, a breakthrough technology born from deep science with clear implications for security and competitiveness,” said Adam Hammer, CEO and co-founder of Roadrunner Venture Studios. “Dan and his team are solving a foundational manufacturing bottleneck that has held back entire industries. This is the kind of innovation that can reshape how America builds at scale.”
Lee and his team continue to innovate. Perseus Materials has been focused on perfecting its modular system designed specifically for large parts. That system will be exhibited at JEC World 2026, where the company plans to demonstrate the scale, throughput, and structural integrity of its manufacturing process through the fabrication of a 15‑foot boat.
The Perseus team includes experienced engineers from Bombardier, Exxon, Whirlpool, and other major companies.
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