Lockheed Martin (NYSE: LMT) has increased the size of its $200 million venture capital fund to $400 million as the company looks to expand startup investments aimed at helping accelerate defense innovation.
Chris Moran, vice president and general manager of Lockheed Martin Ventures, said in a statement released Tuesday the fund vetted over 1,000 startups that are developing technologies in various areas such as artificial intelligence, cybersecurity, autonomy and robotics and quantum computing.
“This commitment allows Lockheed Martin Ventures to identify, evolve and integrate emerging technology into our national security industrial base on a larger scale and better serve the future needs of our customers,” added Moran.
The ventures fund, which has made investments in more than 70 startups since 2007, has so far invested this year in 11 tech companies focused on building technologies in the areas of quantum computing, space services, advanced manufacturing and sensor technology.
