Just one month after raising $11.75 million in a round led by Joe Lonsdale’s 8VC, African defensetech company Terra Industries announced it has raised an additional $22 million in funding. This new round was led by Lux Capital.
Terra Industries was launched in 2024 by Nathan Nwachuku, 22, and Maxwell Maduka, 24. The company designs infrastructure and autonomous systems to help African nations monitor and respond to threats. Terrorism remains one of the biggest threats in Africa, but much of the security intelligence relied upon by African nations comes from Russia, China, or the West.
In January, CEO Nathan Nwachuku stated his goal was to build Africa’s first defense prime, creating autonomous defense systems to protect critical infrastructure and resources from armed attacks. At that time, Terra had just won its first federal contract. The company serves both government and commercial clients. Nwachuku said Terra had already generated more than $2.5 million in commercial revenue and was protecting assets valued at around $11 billion.
He explained this extension round happened quickly due to strong momentum. Other investors in the round include 8VC, Nova Global, and Resiliience17 Capital, which was founded by Flutterwave CEO Olugbenga Agboola. Nwachuku said investors observed faster-than-expected traction regarding deals and partnerships, which created an urgency to preempt and increase their commitment. The round was completed in just under two weeks, bringing the company’s total funding to $34 million.
This substantial raise is not entirely surprising, as building a defense company is exceptionally capital-intensive. For comparison, other major defense technology companies like Anduril have raised more than $2.5 billion, ShieldAI has raised around $1 billion in equity, drone maker Skydio has raised around $740 million, and naval autonomous vessel maker Saronic has raised around $830 million.
Since January, Nwachuku said the company has begun expanding into other African nations, details of which are yet to be announced. Terra is based in Nigeria. The company has also secured more government and commercial contracts, including one with AIC Steel, with more partnerships to be revealed this year.
The partnership with AIC Steel allows Terra to establish a joint manufacturing facility in Saudi Arabia focused on building surveillance infrastructure and security systems. This marks the company’s first major manufacturing expansion outside of Africa.
Nwachuku added that the priority is working with countries where terrorism and infrastructure security are major national concerns, particularly those within the sub-Saharan African and Sahel region. He noted that many of these nations have lost billions in infrastructure and thousands of lives in the past few decades.
The company’s expansion strategy is focused on targeting major economies where the need for infrastructure security is urgent and where their solutions can make a meaningful impact. That is how the company thinks about its growth.