Lockheed Martin Ventures is making a strategic investment in Terran Orbital, a company involved in nanosatellite design, development, manufacturing, testing and launch — the investment will create opportunities for the companies to share their expertise and customer relationships to advance this emerging technology.
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.
While Lockheed Martin has provided funding to venture stage companies since 2007, the company 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, cyber security, artificial intelligence, advanced electronics and sensor technologies.
Tony Previte, the CEO of Terran Orbital, added that an equity investment by Lockheed Martin allows the firm to grow the business while further solidifying a relationship with a leader in aerospace and defense to provide a broader range of innovative solutions to customers.