Airspace Security Firm Fortem Technologies Raises $17.8M to Combat Drone Attacks

Fortem Technologies, a frontrunner in airspace awareness, security, and defense, has closed a $17.8 million funding round with industry investors Lockheed Martin Ventures, the venture capital arm of the US defense contractor, Hanwha Aerospace, and AIM13|Crumpton Venture Partners. Current investors DCVC and Signia Venture Partners have also provided additional financing.

Fortem has an anti-drone defense system that uses homegrown radar with artificial intelligence software to detect bad drones and then launches counter-drones to capture and neutralize them with a physical net.

“Rapid development and legitimate applications of UAS (Unmanned Aircraft Systems) create an increasingly capable threat when in the hands of bad actors,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures.

Pleasant Grove, UT-based Fortem says its systems have helped Ukraine defend its critical infrastructure against Iranian-made Shahed-136 “suicide drones” deployed by Russian forces. Its equipment was also used to provide security at the 2022 FIFA World Cup in Qatar.

The counter-drone market is expected to grow to $12.6 billion in 2030 from $1.4 billion in 2021, according to the company.