Terra Industries raises $22M extension led by Lux Capital

One month after an $11.75 million round led by Joe Lonsdale’s 8VC, African defensetech Terra Industries said it has raised an additional $22 million led by Lux Capital. Nathan Nwachuku, 22, and Maxwell Maduka, 24, launched Terra Industries in 2024 to design infrastructure and autonomous systems to help African nations monitor and respond to threats.

In January, CEO Nwachuku said his goal was to build “Africa’s first defense prime, to build autonomous defense systems and other systems to protect our critical infrastructure and resources from armed attacks.” At the time the company had just won its first federal contract.

Terra has government and commercial clients, had generated more than $2.5 million in commercial revenue and was protecting assets valued at around $11 billion. Other investors in the extension include 8VC, Nova Global and Resiliience17 Capital, founded by Flutterwave CEO Olugbenga Agboola.

terra industries, lux capital, 8vc, nathan nwachuku, maxwell maduka, defense tech, african defense, 22 million, autonomous systems, olugbenga agboola