Firestorm Labs fetches $47M in Series A capital

Firestorm Labs, a startup that touts a “factory-in-a-box” approach for making unmanned aircraft, has captured $47 million in Series A capital from investors to help fund a larger production facility and key engineering hires.

The company opened for business in 2022 to apply additive manufacturing techniques, including three-dimensional printing, into its processes for producing drones on shorter cycles versus traditional means.

New Enterprise Associates led the Series A round announced Wednesday, which also included the venture capital arms of Booz Allen Hamilton and Lockheed Martin as participants. Decisive Point and Washington Harbour Partners were among the other participants in Firestorm’s Series A round, while J.P. Morgan is contributing $12 million in venture debt.

Lockheed Martin Ventures also was involved in Firestorm’s initial seed capital raise that fetched $12.5 million in the spring of 2024.

San Diego-headquartered Firestorm has booked several Defense Department contracts since its start, including a $100 million Air Force contract to continue research-and-development work on additively manufactured drones.

The Air Force awarded that contract in December as a Small Business Innovation Research Phase III effort, under which Firestorm can also receive orders from other federal agencies.

Firestorm will use the new capital to further scale out xCell, its flagship offering that acts as a expeditionary manufacturing cell powered by off-the-grid generators and not requiring high levels of human involvement. XCell’s production capabilities include the drones themselves, payloads and replacement components.

New drone designs are also a priority for Firestorm as it seeks to align with DOD’s push for more rapid field production and sustainment of drones. Firestorm is working to unite onboard computers, tactical software, developer tools and mission planning functions into a single ecosystem.

"We're thrilled about this milestone, because it empowers Firestorm to deliver critical, battlefield-ready solutions faster and at scale," Firestorm’s Dan Magy said in a release. "Our unique ability to 3D print modular airframes on-site dramatically reduces production timelines, costs, and logistical constraints, giving the U.S. and allied forces the adaptive technology they urgently need in complex and contested operational environments."

For Booz Allen Ventures and Lockheed Martin Ventures alike, these investments represent their newest backings of a startup whose technologies show promise for future deployments by federal customers.

"Sustaining a competitive advantage means investing boldly in technologies that match the pace and complexity of modern threats,” said Brian MacCarthy, managing partner of Booz Allen Ventures. “Firestorm is delivering breakthrough technology designed for speed, scale, and survivability in the world's most challenging environments. Their ability to move fast and solve hard operational problems is exactly what the U.S. and its allies need to stay ahead in the battlespace."

"Our military needs technology it can trust to be ready when the circumstances demand it," added Chris Moran, vice president and general manager of Lockheed Martin Ventures. "Deployable, on-site 3D drone printing is a powerful tool that further extends the warfighter's ability to secure the battlespace, while advancing U.S. leadership on the frontiers of defense technologies."

Washington Harbour Partners focuses its investment activity on small and midsized companies, either via acquisitions or late-stage venture and growth equity.

"One of the most pressing constraints to our military's readiness and operational reach is our manufacturing capacity,” said Mina Faltas, WHP’s founder and chief investment officer. “Firestorm is filling that void by providing critical additive manufacturing capabilities that will contribute to the entire defense ecosystem, from the front line to the industrial base.”