Perseus was also backed early by Roadrunner Fund and incubated by Roadrunner Venture Studios, the nation’s first venture studio focused on deep technology company creation.
Perseus Materials has closed a strategic investment for an undisclosed amount from Lockheed Martin, one of the largest defense technology companies in the world.
The announcement reinforces what the East Tennessee entrepreneurial ecosystem has known for a long time. Perseus Materials founder Daniel Lee has achieved a new, innovative approach to composite manufacturing. Instead of focusing on tools and molding, Perseus targets the chemistry of the materials before they reach the production line. Its advanced resin chemistry, combined with robotics and custom hardware, helps the company make composite construction faster and cheaper than wood, steel, or concrete.