Firestorm Labs raises $82M to take drone factories into the field [TechCrunch]
Lockheed Martin Corporation (LMT)
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Source: TechCrunch
Defense startup Firestorm Labs thinks the answer is a drone factory that fits inside a shipping container. The company announced on Wednesday that it has raised $82 million in Series B funding led by Washington Harbour Partners with participation from NEA, Ondas, In-Q-Tel, Lockheed Martin, Booz Allen Ventures, Geodesic, Motley Fool Ventures, and others, bringing its total funding to $153 million. Firestorm didn't start out as a factory company. It began as a drone maker, but when customers started asking to move production closer to the front lines, the founders saw an opportunity to pivot. Firestorm Labs CEO Dan Magy is a serial defense tech entrepreneur. His co-founders bring complementary backgrounds: Chad McCoy is a career special operations veteran, and CTO Ian Muceus holds over a dozen patents in 3D printing. The San Diego-based startup makes xCell, a containerized manufacturing platform that can print drone systems in under 24 hours. The drones aren't locked into a sing
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