Drone manufacturer and 3D printing specialist Firestorm Labs receives 12.5 million dollar investment

Firestorm Labs, a California-based manufacturer of unmanned aerial systems (UAS) that also relies on 3D printing, has announced a $12.5 million seed investment from Lockheed Martin Ventures and prominent defense investors.

“Firestorm is excited to announce this latest round of funding that will propel the company forward to shape the rapidly evolving needs of a UAS-dominated battlefield and a defense industrial base ripe for revolutionary manufacturing models,” said CEO Dan Magy. “Our investors understand the pressing need for delivering technologies quickly and with the interoperability that today’s warfighters demand, and we are thrilled to welcome Lockheed Martin Ventures partnership in this mission.”

Firestorm’s xCell product line, based on proprietary 3D-printed and modular aerospace technology, is at the center of these developments, and investors include names such as Lockheed Martin, 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.

“We are a new approach to an emerging global challenge,” said Chad McCoy, Co-Founder and Chief Strategy Officer. “There is a clear need within the defense technology sector to build faster and less costly systems, and simply throwing money at the issue won’t change the outcome. We found that coalescing a deep operational understanding of warfighter needs, combined with aerospace pragmatism, and a new rapid manufacturing model, allows us to stand out in a very crowded market. The goal is to create a completely new category that shakes up legacy timelines and cost.”

This funding will allow Firestorm to expand its team and production capabilities to meet the increasing demand for its products. The company has already won a number of contracts with the US Department of Defense for its modular UAS and xCell production line, further cementing Firestorm Labs’ strategic positioning and future growth.