Lockheed Martin‘s (NYSE: LMT) venture capital arm has invested in Machina Labs, a Los Angeles-based manufacturing company that uses artificial intelligence and robotics to make advanced sheet metal products.
Machina Labs said Thursday the money will support research and development and business growth efforts as well as advance the production of its Roboforming platform for defense applications.
The investment brings the company’s total funds raised to $21.8 million.
Chris Moran, vice president and general manager of Lockheed Martin Ventures, said the two companies will work to bring agile manufacturing technology to Lockheed’s customers.
“We aim to operationalize and scale solutions with speed and effectiveness so the U.S. and our allies can stay ahead of emerging threats,” Moran added.
Lockheed doubled the size of its venture capital fund from $200 million to $400 million in August 2022 to expand investments in technology start-up companies.