Lockheed VC arm injects funds in small sat maker Terran Orbital

Lockheed Martin's venture capital organization has invested an undisclosed sum of funds into Irvine, Calif.-based small satellite manufacturer Terran Orbital in order to further advance nanosatellite technologies.

Both companies have partnered on Defense Department and NASA programs and seek to further expand the business relationship. Terran's customer base includes agencies in the civil, military, classified government and commercial sectors.

Nanosatellites carry a wet mass of 2.2-22 pounds and are often designed to operate together in large groups, or "swarms," for communications or scientific gathering missions. Industry envisions nanosatellites as a means to take out costs associated with launch vehicles and construction.

The agreement gives Lockheed an equity stake in Terran through both cash and in-kind investments. Lockheed and Terran will share knowledge and customer relationships through the investment.

The Lockheed Martin Ventures organization launched in 2007 and refocused in 2016 toward technology priorities such as autonomous systems, robotics, cybersecurity, artificial intelligence, sensors and advanced electronics.