Terra Industries Raises $22M in Extended Funding

Terra Industries, an Africa-focused defense technology company, has secured an additional $22 million in funding, extending its previously announced $11.8 million round to a total of $34 million. The extension was led by Lux Capital and included participation from existing investors like 8VC, Nova Global, and Silent Ventures, as well as new investors such as Belief Capital, Tofino Capital, and Resilience17 Capital (founded by Flutterwave CEO Olugbenga Agboola). Angel investors Jordan Nel and Jared Leto also participated. The funding, secured in less than two weeks, reflects strong investor confidence in Terra Industries' mission to protect critical infrastructure and address rising insecurity and terrorism across Africa. Founded in 2024 by Nathan Nwachuku and Maxwell Maduka, Terra Industries designs and manufactures autonomous defense systems, including drones, sentry towers, and unmanned ground vehicles, connected by its proprietary ArtemisOS software. These systems are already deployed at strategic assets in several African countries, securing infrastructure valued at approximately $11 billion. The new capital will be used to expand manufacturing capacity, accelerate deployments in Nigeria and other African countries, and grow engineering, software, and business development teams across Africa, London, and San Francisco. Terra Industries also plans a joint manufacturing facility in Saudi Arabia with AIC Steel.