Lockheed Martin Leads X-Bow Systems' Series B Funding Round with $105 Million

X-Bow Systems Inc (X-Bow), a leading non-traditional producer of advanced manufactured solid rocket motors (SRMs) and defense technologies, has successfully closed its Series B funding round, securing over $105 million. Lockheed Martin took the strategic lead in this round, making a significant investment in X-Bow Systems. This investment paves the way for a strategic agreement between X-Bow and Lockheed Martin, enabling the acceleration of X-Bow as an independent SRM supplier for Lockheed Martin's current and future programs.

X-Bow's CEO, Jason Hundley, expressed confidence in the company's growth prospects due to this investment and partnership, emphasizing plans to expand production capacity, drive innovation, and solidify their position as a critical independent supplier in the defense industrial base. Lockheed Martin's Vice President and General Manager, Chris Moran, highlighted their continued support for X-Bow, aligning with their strategy to bolster innovative solutions enhancing national security.

X-Bow's pioneering Texas energetics campus, fueled by private capital, is set to open near Austin, leveraging the company's AMSP technology to facilitate affordable and sustainable SRM production for the Department of Defense and other customers. Notable investors in this funding round include Razor's Edge Ventures, Crosslink Capital, Balerion Space Ventures, Boeing Ventures, Bravo Victor Venture Capital, Upsher Management Company, Capital Factory Ventures, Arkenstone Capital, and Event Horizon Capital, with Union Square Advisors LLC serving as the exclusive financial advisor to X-Bow.

X-Bow Systems, disrupting the aerospace industry with advanced manufactured energetics, is led by a team of industry veterans and new space entrepreneurs. The company, backed by investment from various entities including Lockheed Martin Ventures, operates from its headquarters in Albuquerque, New Mexico, with a presence across California, Alabama, Colorado, Texas, Utah, Maryland, and Washington, DC.

Source: PR NewsWire