Terrahaptix Secures $22M Funding for Drone Expansion

Terrahaptix, a Nigerian drone startup formerly known as Terra Industries, has successfully raised an additional $22 million in funding, led by the U.S. venture firm Lux Capital, alongside Resilience17 Capital, which is associated with Flutterwave's CEO, Olugbenga Agboola. This funding round comes shortly after the company closed an earlier $11.8 million round, indicating strong investor interest in defense and security technology.

Terrahaptix's CEO, Nathan Nwachukwu, noted that this round significantly exceeded expectations. The company plans to utilize the new capital to expand its existing manufacturing facility in Abuja, targeting an annual production of 40,000 drones.

Additionally, Terrahaptix intends to construct a mega factory at an undisclosed location to support anticipated demand from government defense clients. The startup has already secured infrastructure assets valued at approximately $11 billion across Africa and has a strong pipeline of contracts worth ten million dollars across public and private sector clients.

Founded by 22-year-old Nwachukwu and 24-year-old Maxwell Maduka, Terrahaptix focuses on building long and mid-range drones, autonomous sentry towers, and unmanned ground vehicles.