Lockheed Martin Corp. are in the news for a Series B funding round investment, via their venture capital arm, in maritime systems technology company known as Ocean Aero Inc.
Ocean Aero Inc., is known for building environmentally-friendly, autonomous and unmanned underwater and surface vehicles. They scored an investment from Lockheed last year – and are right now looking for a follow-on investment to boost their maritime capabilities, mostly in the field of intelligence, surveillance and reconnaissance work.
A Win-Win Strategy that Will Produce Leaders in Technology
On top of this, the investment will make Ocean Aero one of the leaders in production and service – but also help Lockheed to invest in tech startups and get early access to critical technologies in areas such as artificial intelligence (AI), satellite communications and others.
Meanwhile, Ocean Aero Inc. is known for having a Submaran S10 submarine, powered by wind and solar energy and representing a new class of unmanned underwater and surface vessel. The unit is designed to travel for months and dive to depths of 660 feet all while conducting surveillance and reconnaissance missions.
Lockheed is Tapping into a Mix of Ocean Experience and World-Class Engineering Innovation
Lockheed (NYSE: LMT) declined to reveal more details about the Series B investment – other than to say that it was a “multi million dollar” investment. What the public knows is that investments like these range from $500,000 to $5 million, and the ‘sweet spot’ is usually between $2 million and $3 million.
Many investors are confident that both of the companies will ‘click nicely’. According to Ocean Aero’s website, they are “founded on an extraordinary mix of ocean experience and world-class engineering innovation.” As their description further reads, their expertise lets the company “take a fresh look at age-old ocean challenges.”
Energy Innovation Capital Also Took Part in the Funding Round
As the reports on the new investment boost read, there is another company named Energy Innovation Capital which also took part in the funding round. The company is known for developing an unmanned surface and underwater vessel, known as Submaran S10, which is designed to collect data and perform the reconnaissance and surveillance missions.
What’s also interesting is the fact that this new investment comes weeks after Lockheed joined the new funding round for Irvine, which is a product of the California-based nanosatellite firm named Terran Orbital, further announcing to infuse an additional $100 million into its venture unit.