Lockheed Martin Ventures announces investment in Terran Orbital
Lockheed Martin Ventures has announced a strategic investment in Terran Orbital, an expert in nanosatellite design, development, manufacturing, testing and launch. Lockheed Martin Ventures says the investment will create opportunities for the companies to share their expertise and customer relationships to advance this emerging technology.
"Terran brings established customer relationships across a broad range of civil, military, commercial and classified customers," said Chris Moran, executive director and general manager of Lockheed Martin Ventures. "The opportunity to invest in a nanosat leader allows us to address our customer's increasing interest in rapid, responsive and cost effective technology missions and demonstrations."
The agreement includes cash and in-kind investments for an equity stake in Terran. Lockheed Martin has partnered with Terran in the past on Department of Defense and NASA missions. This investment will allow for an expansion of that relationship.
"An equity investment by Lockheed Martin allows us to grow our business while further solidifying our relationship with the leader in aerospace and defense to provide a broader range of innovative solutions to our customers," said Tony Previte, CEO of Terran Orbital.
A statement from Lockheed Martin notes that while the company has provided funding to venture stage companies since 2007, it refocused in 2016 to longer term, strategic investments in technology innovations that could drive growth in existing, adjacent and new markets for Lockheed Martin. The fund invests primarily in early-stage companies, and its technology priorities include autonomous systems and robotics, cybersecurity, artificial intelligence, advanced electronics and sensor technologies.