Jane Edwards
Lockheed Martin’s venture capita
l 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.
