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- Firestorm
Firestorm Funding, Investors & Competitors
Firestorm has raised $130M across 4 funding rounds, most recently a $82M Series B in April 2026.
Last Firestorm funding round
$82M
Series B · Apr 2026
Cumulative funding Firestorm raised
$130M
across 4 funding rounds
Key investors in Firestorm
New Enterprise Associates
Lockheed Martin Ventures
Washington Harbour Partners
Lockheed Martin
Booz Allen Ventures
Alumni Ventures
Craft Ventures
Geodesic Capital
About Firestorm
Firestorm is a developer of modular Unmanned Aerial Systems including the Tempest drone platform with quick-connect assembly and swappable propulsion. Based in the U.S., it provides expeditionary manufacturing cells called xCell and the OCTRA flight controller integrating AI autopilots. Firestorm targets defense and commercial missions requiring rapid deployment since its 2022 founding.
Founded
2022
HQ
Website
Status
Privately held
Customer focus
B2B & B2G
Revenue model
Product sales, Subscription
Firestorm Funding History
Firestorm has raised a total of $130M across 4 funding rounds.
Firestorm's first fundraising round was a $13M seed round in March 2024. The most recent completed round was a $82M Series B in April 2026.
Firestorm funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Apr 2026 | Series B | Washington Harbour Partners (lead); Ondas; New Enterprise Associates; Julian Mann; Litquidity Ventures; Geodesic Capital; Booz Allen Ventures; Motley Fool Ventures; Lockheed Martin | $82M | Firestorm Labs raised $82 million in an oversubscribed Series B funding round in late April 2026, led by Washington Harbour Partners, with participation from returning investors New Enterprise Associates (NEA), Lockheed Martin Ventures, and Booz Allen Ventures, alongside new investors including In-Q-Tel, Ondas, Geodesic, and Motley Fool Ventures. The round brings the company's total funding to $153 million, following a $12.5 million seed round in 2024 led by Lockheed Martin Ventures and a $47 million Series A in July 2025 led by NEA. The funding supports scaling production of xCell containerized microfactories for 3D-printed drones, enabling deployment of mobile manufacturing units to front-line operational zones, execution of contracts, and geographic expansion across multiple U.S. states. Firestorm focuses on defense tech innovations like portable drone factories in shipping containers to bring rapid manufacturing closer to combat areas, addressing needs for on-demand production of drones and related hardware. Firestorm Labs, based in San Diego, California, develops advanced defense manufacturing systems, specializing in 3D-printed drones and containerized microfactories for agile, field-deployable production. Previous backers including Booz Allen Ventures and Lockheed Martin participated across rounds, signaling sustained strategic interest from defense and venture ecosystems. |
| Mar 2026 | Series B | New Enterprise Associates; Sahin Boydas; Lockheed Martin | - | - |
| Jul 2025 | Series A | New Enterprise Associates (lead); Decisive Point; Silent Ventures; Washington Harbour Partners; Alumni Ventures; Booz Allen Ventures; Harpoon; MDSV Capital; Craft Ventures; Lockheed Martin Ventures | $35M | Firestorm Labs, a San Diego-based defense tech startup founded in 2022, develops expeditionary manufacturing solutions using additive manufacturing and 3D printing to produce unmanned aerial systems (UAS), modular airframes, payloads, and components on-site via its xCell 'factory-in-a-box' platform, which operates off-grid with minimal human involvement. The company targets U.S. and allied defense needs for rapid, scalable production in contested environments to reduce timelines, costs, and logistics. On July 16, 2025, Firestorm Labs raised $47 million in a Series A round led by New Enterprise Associates, with participation from Lockheed Martin Ventures, Booz Allen Ventures, Decisive Point, Washington Harbour Partners, and others including Alumni Ventures, Craft Ventures, Harpoon, MDSV Capital, and Silent Ventures; the total includes $12 million in venture debt from J.P. Morgan. This follows a $12.5 million seed round in spring 2024 also involving Lockheed Martin Ventures. Proceeds will fund a larger production facility, engineering hires (aiming to add up to 50 staff to its ~80 employees), xCell scaling, new drone models, and partnership expansion. Firestorm has secured multiple U.S. Department of Defense contracts, including a $100 million Air Force Small Business Innovation Research Phase III award in December 2024 for additively manufactured drones, enabling orders from other agencies. The funding reflects investor confidence amid rapid growth and DoD traction in the defense tech sector, alongside peers like Anduril ($30 billion valuation in 2025 Series G) and Shield AI ($240 million Series F in March 2025). |
| Mar 2024 | Seed | Lockheed Martin Ventures (lead) | $13M | Firestorm Labs, a California-based Unmanned Aerial System (UAS) manufacturer, announced a $12.5 million seed funding round led by Lockheed Martin Ventures on March 21, 2024. The funding syndicate included prominent defense investors including Decisive Point, Silent Ventures, 645 Ventures, Overmatch VC, BVVC, Marquee Ventures, Cubit Capital, IronGate, Backswing Ventures, The Veteran Fund, Feld Ventures, Beyond Capital, and RedCat. The company specializes in expeditionary additive manufacturing, with its xCell product line enabling 3D-printed, modular airframe components to be manufactured at the point of need, fundamentally changing the production timeline and cost structure for unmanned aircraft systems. Firestorm had already secured multiple U.S. Department of Defense contracts for both its modular UAS and manufacturing technology prior to the round. The seed capital enabled the company to scale its team and production capacity to meet growing defense sector demand for rapidly deployable, cost-effective drone solutions. |
Who has invested in Firestorm?
17 investors have backed Firestorm across its funding rounds, including New Enterprise Associates, Lockheed Martin Ventures, Washington Harbour Partners, Lockheed Martin, Booz Allen Ventures and Alumni Ventures.
Lead investors include Washington Harbour Partners, New Enterprise Associates and Lockheed Martin Ventures.
Firestorm Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Jul 2025 | ||
| 2 | Lead | Jul 2025 | ||
| 2 | Participant | Jul 2025 | ||
| 2 | Participant | Mar 2026 | ||
| 2 | Lead | Mar 2024 | ||
| 1 | Participant | Apr 2026 | ||
| 1 | Participant | Jul 2025 | ||
| 1 | Participant | Jul 2025 | ||
| 1 | Participant | Apr 2026 | ||
| 1 | Participant | Apr 2026 | ||
| 1 | Participant | Apr 2026 | ||
| 1 | Participant | Jul 2025 | ||
| 1 | Participant | Mar 2026 | ||
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Start Free TrialFirestorm Competitors
Firestorm competitors include listed companies like Tempus AI, iFlytek and UiPath, and private ones like Quantum Systems, Anduril and SambaNova.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $330M | - | $8B | 24.2x | ||
| Private | $2.2B | - | $61B | 27.7x | ||
| Publicly listed | $1.3B | ($131M) | $15B | 10.1x | ||
| Publicly listed | $4B | $465M | $14B | 3.4x | ||
| Private | $100M | - | $11B | - | ||
| Publicly listed | $1.6B | $70M | $7.2B | 3.5x |
Firestorm Public Comps
Firestorm is still privately-owned, but its public comps include Tesla, Palantir, GE Aerospace, RTX, CrowdStrike, SAP, Salesforce, Airbus, Rolls-Royce and Boeing.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $95B | $10B | 15.0x | 13.8x | 140.8x | 97.4x | |||
| $4.5B | $1.5B | 92.6x | 58.1x | 285.0x | 97.4x | |||
| $46B | $11B | 7.3x | 7.0x | 30.2x | 29.1x | |||
| $89B | $15B | 3.3x | 3.1x | 19.7x | 19.4x | |||
| $4.8B | ($12M) | 51.4x | 44.5x | (19816.2x) | 151.0x | |||
| $42B | $13B | 5.8x | 5.4x | 18.4x | 17.1x | |||
| $42B | $13B | 5.5x | 5.2x | 17.8x | 12.2x | |||
| $85B | $11B | 2.1x | 1.9x | 16.0x | 14.3x | |||
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Common questions about Firestorm
| When was Firestorm founded? | Firestorm was founded in 2022. |
| Where is Firestorm headquartered? | Firestorm is headquartered in San Diego, CA, United States. |
| Is Firestorm publicly listed? | No, Firestorm is a private, VC-backed company. |
| How much funding has Firestorm raised? | Firestorm has raised $130M across 4 funding rounds. |
| What was Firestorm's last funding round? | Firestorm's last funding round was a $82M Series B in April 2026, led by Washington Harbour Partners. |
| Who are Firestorm's investors? | Firestorm's investors include New Enterprise Associates, Washington Harbour Partners, Booz Allen Ventures, Lockheed Martin, Lockheed Martin Ventures, Ondas, Decisive Point, Silent Ventures, Julian Mann, Litquidity Ventures and 7 others. |
| Which companies are comparable to Firestorm? | Companies comparable to Firestorm include Quantum Systems, Anduril, Tempus AI, iFlytek, SambaNova and UiPath. |
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