Thursday, March 21, 2024

Firestorm Labs Lands $12.5M In Seed Funding From Lockheed Martin, Others

San Diego-based Firestorm Labs, a developer of unmanned aerial systems (UAS), says it has received $12.5M in a seed funding round. The funding came from Lockheed Martin Ventures, as well as Decisive Point, Silent Ventures, 645 Ventures, Overmatch VC, BVVC, Marquee Ventures, Cubit Capital, IronGate, Backswing Ventures, The Veteran Fund, Feld Ventures, Beyond Capital, and RedCat. According to the company, it is developing 3D-printed, interconected, and interchangeable aircraft component technology. The company's CEO is Dan Magy. Firestorm said it will use the funding to scale its team and production to meet growing demands for its products.