Lockheed Martin has made approximately $100 million in investments in 22 commercial technology startups since the defense contractor established its venture capital arm in 2007, CNBC reported Thursday.
Lockheed Martin Ventures has invested this year in early-stage start-ups that work on technologies in the areas of cybersecurity, autonomous technology and nanosatellites and those companies include Cyberreason, Peloton Technology and Terran Orbital.
Terran Orbital secured a strategic investment from Lockheed“™s ventures division in June to help advance the development of nanosatellites.
The report said such nanosatellites could potentially help the Defense Department perform intelligence and surveillance missions in space.
“We’re investing in commercial tech and trying to find dual-use applications in defense,“ said Chris Moran, executive director and general manager of Lockheed Martin Ventures.
“We’re honestly hoping that the commercial business scales that business,” he added.