Lockheed Martin, Bethesda, Maryland, USA, has added $100 million to its venture capital fund – nearly double the original figure. The company also revealed its recent investments in early-stage companies in the field of autonomy and advanced manufacturing.
As part of its latest wave of investments, Lockheed Martin has expanded its relationship with nTopology, New York City, New York, USA, a software company and the creator of Element, an advanced CAD software which offers generative, function-based design for engineering, including Additive Manufacturing.
“Our investment in nTopology will bring strategic advantages in Lockheed Martin’s computational design processes and help shorten the periods between the design and manufacturing phase,” stated Chris Moran, Vice President and General Manager of Lockheed Martin Ventures.
“Our focus is on finding and investing in companies developing cutting-edge technologies that will grow our business and disrupt our industry,” he continued. “We’re developing long-term strategic partnerships with companies and helping them navigate through the early stages of product development while leveraging our decades of experience working with government customers.”
The reported increase in the venture fund is part of $460 million that Lockheed Martin is investing as a result of tax reform savings. Additional investments planned by the company include:
- $200 million additional investments in capital expenditures and research and development in 2018
- $100 million in employee training and educational opportunities over the next five years
- $50 million investment in science, technology, engineering and math (STEM) education enrichment, including the establishment of a new Lockheed Martin STEM Scholarship Fund
- $10 million for the launch of the Lockheed Martin Innovation Prize competition