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Lockheed Increases Investment in Ocean Aero via Series B Funding Round

Lockheed Increases Investment in Ocean Aero via Series B Funding Round - top government contractors - best government contracting event

Lockheed Martin's venture capitaLockheed Increases Investment in Ocean Aero via Series B Funding Round - top government contractors - best government contracting eventl arm has participated in a round of Series B financing for Ocean Aero to help the San Diego-based autonomous marine systems developer ramp up production work and support its client base, the Washington Business Journal reported Tuesday.

Lockheed made its initial investment in Ocean Aero in September 2017 through its venture arm in an effort to expand its maritime capabilities.

Energy Innovation Capital also took part in the new funding round for Ocean Aero, which has developed an unmanned surface and underwater vessel, Submaran S10, designed to collect data and perform reconnaissance and surveillance missions.

The new investment came weeks after Lockheed joined in a new funding round for Irvine, Calif.-based nanosatellite firm Terran Orbital and two months after the defense contractor announced plans to infuse an additional $100M into its venture unit.

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Written by Jane Edwards

is a staff writer at Executive Mosaic, where she writes for ExecutiveBiz about IT modernization, cybersecurity, space procurement and industry leaders’ perspectives on government technology trends.

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