HawkEye 360 Closes Additional $10 Million in Series D-1 Funding from Lockheed Martin Ventures and Company Insiders
HawkEye 360 and Lockheed Martin Corporation sign Strategic Cooperative Agreement
HERNDON, Va., Oct. 18, 2023 /PRNewswire/ -- HawkEye 360 Inc., the world's leading defense technology company for space-based radio frequency (RF) data and analytics, announced today the second and final close of the company's Series D-1 funding round with an additional $10 million, bringing the total Series D-1 to $68 million. Investors for the second close included Lockheed Martin Ventures, the venture arm of Lockheed Martin Corporation (NYSE: LMT), and company insiders. As part of this investment, HawkEye 360 and Lockheed Martin Corporation have signed a strategic cooperative agreement to further the development of end-to-end remote sensing solutions for government and commercial customers, with a particular focus on delivering sophisticated RF intelligence systems globally.
"We are thrilled to join forces with Lockheed Martin, a company with an unparalleled legacy in aerospace and defense," said HawkEye 360 CEO John Serafini. "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."
"At Lockheed Martin, we see synergies between our programmatic analytical expertise and HawkEye 360's commercial RF data generating constellation," said Chris Moran, vice president and general manager at Lockheed Martin Ventures. "HawkEye 360 has the potential to apply highly tailored RF solutions to fit our customers' mission."
The funding will be used to develop new space systems and expand analytics that support high-value defense missions. HawkEye 360 currently has 21 satellites in orbit and plans to move to a new Block 3 satellite architecture starting with Cluster 14. The company is also investing further in artificial intelligence, data fusion, and multi-intelligence orchestration to better extract value from the large amount of RF data being collected. The goal is to address the increasing demand for tactically relevant RF intelligence.
The initial $58 million in Series D-1 funding, which was announced in July 2023, was led by funds and accounts managed by BlackRock with additional funding provided by Manhattan Venture Partners and existing investors including Insight Partners, NightDragon, Strategic Development Fund (SDF), Razor's Edge, Alumni Ventures, and Adage Capital.
About HawkEye 360
HawkEye 360 is a defense technology leader providing global knowledge of human activity and trends derived from revolutionary radio frequency (RF) geospatial intelligence. The company's innovative space-based technology was developed to detect, characterize, and geolocate a broad range of RF signals. These RF data and analytics provide an information advantage allowing analysts to detect the first glimpse of suspicious behavior, trace the first sign of adversarial activity, reveal the first sighting of ships attempting to vanish, and improve situational awareness across all domains. HawkEye 360's RF intelligence provides timely insights on critical events and patterns of life, enabling early warnings to drive effective tip and-cue activities that ensure leaders have the intelligence needed to make decisions with confidence. HawkEye 360 is headquartered in Herndon, Virginia.
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SOURCE HawkEye 360
