LAGO Innovation Fund Facilitates $10mm Investment in Fortem Technologies to Support Demand for Drone Defense Solutions

Defending Against Hostile Drones, Incorporating Sensors, Drones and AI-enabled Software

CHICAGO, IL, UNITED STATES, November 13, 2024 /EINPresswire.com/ -- LAGO Innovation Fund (LAGO), a private credit fund supporting high-growth companies in some of the most significant and transformative industries, announced that it has facilitated a $10mm round of funding for Fortem Technologies, a leader in airspace awareness, security, and defense for detecting and defeating dangerous drones. Utilizing a proprietary technology platform with an advanced, end-to-end system of distributed radar, AI at the Edge, deep sensor integration and autonomous drone capture, Fortem monitors and defends venues, infrastructures, cities and regions around the globe.

“We’re amazed at the advanced capabilities of Fortem Technologies for the aerospace industry, and pleased to provide this round of funding to help further their immediate business and production goals,” noted Heather La Freniere, Co-founder and Managing Partner of LAGO. “Their scope of information and security products are very relevant during such a challenging geopolitical landscape.”

The company’s products are not only cost-effective and autonomous, but have also been developed and tested through the US Department of Defense (DoD) and now available for commercial use in a range of applications.

“This investment is a strong endorsement of Fortem’s innovative technology and our vital mission to protect global airspace from hostile drones,” said Jon Gruen, CEO of Fortem Technologies. “We are grateful to LAGO Innovation Fund for their support and with the $5 million draw on a $10 million total investment, we’re well-positioned to deliver on current significant orders and meet the growing demand for our solutions. We would also like to extend our appreciation to Charlie O’Connell from North Channel, who acted as our sole advisor in securing this funding, which will allow us to rapidly expand our capabilities and continue delivering mission-critical security solutions worldwide.”

About LAGO
LAGO Innovation Fund, part of LAGO Asset Management, supports high-growth “disruptor” companies by delivering customized term loan credit facilities and equity co-investments to founders and investors. Through its experienced team with expertise in private credit, LAGO specializes in providing capital, typically from $5-$50MM to fuel the growth of emerging leaders in a wide range of sectors including XaaS, Mobility, AI, Climate Tech, Space Tech, Health + Wellness, Clean Beauty + Skincare and E-Commerce. The company acts as a partner to structure founder-friendly investments that provide incremental, longer-term investable capital to drive market penetration and ultimately the value of a business. To learn more, visit LAGO Innovation Fund and follow on LinkedIn.

About Fortem Technologies
Fortem Technologies is the leader in airspace awareness, security, and defense for detecting and defeating dangerous drones. Through an advanced, end to end system of distributed radar, AI at the Edge, deep sensor integration, and autonomous drone capture, Fortem monitors and defends the world’s venues, infrastructures, cities, and regions. The same system is accelerating the safety of the world’s airspace for urban air mobility. Based in Pleasant Grove, Utah, the company is privately held and backed by Toshiba, Boeing, DCVC, Mubadala Investment Company, Signia Venture Partners and others.

Roberta Tsang
RTPR
email us here
Visit us on social media:
Facebook
X
LinkedIn
Instagram
YouTube
Other