Virginia, USA-based world’s leading defence technology company for space-based radio frequency (RF) data and analytics, HawkEye 360, closed its company’s Series D-1 funding round at USD 68 million. The company raised an additional USD 10 million in the financing. The round took place on October 18, 2023. Lockheed Martin Ventures, the venture arm of Lockheed Martin Corporation (NYSE: LMT), led the financing for the company, along with other company insiders who participated in the round. In addition, HawkEye 360 and Lockheed Martin Corporation also signed a strategic cooperative agreement to further the development of end-to-end remote sensing solutions for government and commercial customers. The companies seeks to particularly focus on delivering sophisticated RF intelligence systems globally.
Purpose of financing for HawkEye 360
The company has plans to develop new space systems with the additional funding. It also seeks to expand analytics supporting high-value defence missions. Currently, the company has 21 satellites in orbit. It further plans to move to a new Block 3 satellite architecture starting with Cluster 14.
The company also explores further opportunities in artificial intelligence, data fusion, and multi-intelligence orchestration to extract value from the large amount of RF data being collected.
The company earlier raised the first tranche of Series D-1 funding in July 2023. BlackRock led the financing back then. The round saw additional funding from Manhattan Venture Partners and existing investors such as Insight Partners, NightDragon, Strategic Development Fund (SDF), Razor’s Edge, Alumni Ventures, and Adage Capital.
What the company’s official has to add
HawkEye 360 CEO John Serafini said, “We are thrilled to join forces with Lockheed Martin. It is a company with an unparalleled legacy in aerospace and defense. As the premier commercial provider of RF geospatial intelligence, HawkEye 360 continues to innovate in response to the increasing global demand for our cutting-edge technologies. Lockheed Martin’s leadership as a system integrator and their signal processing capability will expand what HawkEye 360 can accomplish as we work together to make the world a safer and more secure place.”
What the investors have to comment
Chris Moran, vice president and general manager at Lockheed Martin Ventures, said, “At Lockheed Martin, we see synergies between our programmatic analytical expertise and HawkEye 360’s commercial RF data generating constellation. HawkEye 360 can potentially apply highly tailored RF solutions to fit our customers’ mission.”
About the company
Charles Clancy, Chris DeMay and Robert McGwier launched the company. HawkEye 360 is a defence technology leader. It provides global knowledge of human activity and trends derived from revolutionary radio frequency (RF) geospatial intelligence.
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