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Fortify Secures $12.5 Million In Funding From Investors, Including Lockheed Martin Ventures & Rtx Ventures, To Accelerate Growth In Advanced Materials & Additive Manufacturing

Jun 05, 2023over 2 years ago

Amount Raised

$12.5 Million

BostonManufacturing

Investors

Rtx VenturesLockheed Martin Ventures

Description

BOSTON, MA / June 1, 2023 / Fortify, a leading full-stack materials science and additive manufacturing company, announced today that it has raised $12.5 million in a funding round from investors, including Lockheed Martin Ventures and RTX Ventures, the venture capital arms of Lockheed Martin and Raytheon Technologies, respectively. This strategic investment will enable Fortify to expand its capabilities and accelerate the development of its groundbreaking Digital Composite Manufacturing (DCM) platform.

Company Information

Company

Fortify

Location

Boston, Massachusetts, United States

About

Fortify is transforming the 3D printing industry with its patented DCM (Digital Composite Manufacturing) platform. DCM delivers new levels of additively manufactured part performance by introducing aligned reinforcing fibers. The technology combines magnetics and DLP (digital light processing) to produce custom microstructures in high-resolution 3D printed composite parts. Engineers can design and print parts with material properties that are optimized for specific functionality. The company’s application focus ranges from injection mold tooling to high performance end-use parts. Since its inception in 2016, Fortify’s accolades include: MassChallenge Startup Gold Winner (2016), JEC Startup Booster Innovation Award (2017), Formnext Startup Challenge Winner (2018), and ACE Tooling and Innovation Award (2019). Fortify's Boston-based team is driven by a mission to provide engineers with tools to design and fabricate parts that are as elegantly designed on the inside as they are on the outside. Fortify delivers faster lead times, lower costs, and superior materials compared to traditional manufacturing processes. For more information visit www.3DFortify.com.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech