TLDR:
- Firestorm Labs raises $12.5 million led by Lockheed Martin’s venture capital unit for 3D printing drone production
- Startup aims to scale production of high performance drones using additive manufacturing technology at lower costs and faster speed
California startup Firestorm Labs has secured a $12.5 million investment led by Lockheed Martin’s venture capital unit to support its endeavors in rapidly producing high-performance drones using 3D printing technology. The San Diego-based company aims to scale its production capacity and commercialize the manufacturing of advanced drones, predominantly for military use, through the innovative additive manufacturing process.
Firestorm Labs highlights the benefits of additive manufacturing in creating UAVs in a significantly shorter time frame and at a lower cost compared to traditional manufacturing methods. The recent funding will enable the company to expand its workforce and enhance its drone production capabilities by leveraging its existing 3D printing assets.
Aside from Lockheed Martin, other defense venture capital firms such as 645 Ventures, The Veteran Fund, Silent Ventures, and Decisive Point, as well as security and defense UAV company Red Cat Holdings, have also contributed to the funding round. Firestorm Labs emphasizes that its 3D printing approach allows for a tenfold reduction in design-to-deployment time, with drones being produced in a matter of hours rather than weeks, and at just 20% of the cost of traditional methods.
The startup’s CEO, Dan Magy, expressed enthusiasm about the investment’s potential to address the evolving needs of a UAS-dominated battlefield and the defense industry’s demand for innovative manufacturing models. The company’s system enables customers to swiftly modify drone configurations and operations to cater to various mission requirements, offering a diverse array of mission types through a streamlined process that leverages artificial intelligence and machine learning applications.
Firestorm Labs’ strategic focus on creating a new manufacturing category by combining operational understanding, aerospace expertise, and rapid manufacturing models underscores its commitment to revolutionizing drone production in response to dynamic military scenarios. By standing out in a competitive market with its unique approach, the company aims to redefine legacy timelines and cost structures within the defense technology sector.
