Gen Z-Founded African Defense-tech Terra Industries Secures $22M Follow-On Round, Valuation Exceeds $100M
A Nigerian defense-technology startup founded by 22-year-old Nathan Nwachuku and 24-year-old Maxwell Maduka, Terra Industries has raised an additional $22 million just one month after securing $11.75 million, pushing the company's total funding to $34 million and its valuation above $100 million.
The new round, completed in under two weeks and led by repeat investor Lux Capital, drew follow-on funding from 8VC, Nova Global, and Silent Ventures Tech In Africa. New investors include Jordan Nel and Hollywood actor Jared Leto Tech In Africa, along with Belief Capital, Tofino Capital, and Resilience17 Capital, which was launched by Flutterwave CEO Olugbenga Agboola.
If weighed by African ecology standards, the fundraising occurred exceptionally quick. According to CEO Nwachukwu, the company had planned to raise about $5million, but the amount of money raised substantially is above expectations because Terra has to increase the rate of production and secure large government and military contracts.
For a company which was established in 2024, Terra Industries has developed and manufactured self-sufficient anxious technologies that allow governments and infrastructure managers to keep an eye on, protect, and react to threats in air, sea, and land settings Global Venturing. Its technology is already deployed to protect power plants, mines, and other critical assets across multiple African countries Global Venturing.
Since terrorism is still one of Africa's largest challenges, the group was founded in order to help African countries in monitoring and responding to threats. However, a large portion of the security intelligence that these countries rely on originated from China, Russia, or West African businesses.
"Africa is industrialising faster than any other region," stated Nwachuku, adding that Terra was already generating over $2.5 million in commercial revenue for African businesses at the time of the original raise. "But none of that progress will matter if we don't solve the continent's greatest Achilles' heel, which is insecurity and terrorism."
The funds will be employed to hire top business and engineering directors in London, San Francisco, and Africa, increase manufacturing, and accelerate up implementations in Nigeria and other African nations.