Lockheed Martin leads 3 million USD investment round in Q5D to make tooling to automate wiring harness manufacture.
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Bristol, UK, 12 April 2024: Q5D Technology, a company specializing in hardware and software tools for automating wiring harness manufacture, announced today the successful closure of a $3 million investment round, led by Lockheed Martin Ventures, the venture investment arm of Lockheed Martin Corporate, a global aerospace and defense company.
Q5D has developed robotic tools combined with sophisticated computer-aided design and manufacturing software, enabling the autonomous addition of wiring and printed electronics directly onto product surfaces. This automation offers not only improved quality and reliability but also significant reductions in manufacturing costs compared to traditional manual processes.
The company has gained significant traction in the automotive sector, driven by the industry’s rapid transition to electric powertrains, where automation is crucial for cost reduction and simplifying complex supply chains.
“We are thrilled to have Lockheed Martin as a strategic investor,” said Stephen Bennington, CEO and co-founder of Q5D. “The potential market for our technology within the defense sector, for both printed electronics and wiring products, is vast. Lockheed Martin’s guidance and support will spearhead our entry into this market in the US and beyond.”
Lockheed Martin’s investment arrives at a pivotal moment for Q5D as it transitions from project-based revenue to machine sales, following the successful launch of its first hardware product last year.
“We see the opportunity for increased versatility and agility in Q5D’s technology,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures. “Wiring is a complex and expensive aspect of the manufacturing process. Q5D’s technology can offer flexibility with the potential for hardware to efficiently switch between manufacturing different parts without compromising quality.”
The defense market is growing and there are huge opportunities for Q5D. However, it is complex and Lockheed Martin’s investment and support will enable Q5D to establish a bridgehead and expand in this sector.
