News Article | March 15, 2018
Boeing has announced its investment in Fortem Technologies Inc., a Salt Lake City-based company developing advanced radar systems for unmanned and manned aircraft.
Founded in May 2016, Fortem has developed a suite of radar systems and radar-enabled product solutions to help unmanned aircraft and pilots safely operate in an increasingly crowded airspace, explains Boeing. Its TrueView radar systems enable unmanned aerial vehicles (UAVs) to perform various logistics applications, including cargo transport, package delivery and large infrastructure inspections.
“Radar technology is a necessary and trusted element as we continue to strengthen autonomy capabilities for a variety of commercial and urban mobility applications,” says Steve Nordlund, vice president of Boeing HorizonX. “Safety is paramount in our approach to the responsible introduction of future air vehicles. Fortem’s radar systems will help as we pave the path to emerging markets of autonomous flight.”
According to Fortem, the total $15 million Series A funding round was led by DCVC (Data Collective) with key participation from Boeing and Mubadala Investment Co., as well as Manifest Growth, New Ground Ventures and founding investor Signia Venture Partners.
Specifically, Boeing HorizonX Ventures participated in the funding round, marking its second investment in autonomous systems technology since the fund was established in April 2017. In October, Boeing announced its investment in Pittsburgh-based Near Earth Autonomy.
The Boeing HorizonX Ventures investment portfolio is made up of companies specializing in technologies for aerospace product and manufacturing innovations, including energy storage, advanced materials, augmented reality systems and software, machine learning, and hybrid-electric propulsion. Boeing HorizonX also seeks unique business opportunities and non-traditional partnerships for the company’s aerospace technology using disruptive innovations and business strategies.
“With support from Boeing and others, Fortem can scale more quickly to support continuous improvements in airspace safety,” says Timothy Bean, CEO of Fortem Technologies. “We look forward to continue working with Boeing as they develop autonomous air vehicles.”
About Fortem Technologies
Fortem Technologies is the leader in airspace awareness, safety and security for a drone world. Fortem delivers commercially available solutions that detect and measure intention of drones in real time to maintain airspace safety, while actively protecting No-Fly Zones. Based in Pleasant Grove, Utah, the company is privately held and backed by Boeing, Signia Venture Partners, DCVC, Mubadala Investment Company, and others.