Terra Industries, a Nigerian defence-technology startup that builds autonomous security systems using its proprietary software, has raised an additional $18 million, closing Africa’s largest seed round at $52 million.
Norleo Space Investments and angel investor Grant Gordon participated in the round as new investors alongside existing investors 8VC, Silent Ventures, Nova Global, Belief Capital, and SV Angel.
Terra said in a statement that it will use the capital to open its first international office in London, expand its manufacturing capacity, accelerate deployment of its products across the Global South, and grow its team in the engineering, operations, and business development departments.
The raise comes amid a busy year for Terra, which raised $11.75 million in January, the largest funding round in the African defence-tech sector. One month later, it raised $22 million in a follow-on round led by Lux Capital. The company has since announced a 34,000-square-foot manufacturing facility in Ghana and signed a memorandum of understanding with Nigeria’s Defence Industries Corporation of Nigeria (DICON) to establish a joint venture for local production of defence systems.
Originally published by TechCabal.