Forterra has secured $238 million in Series C equity and debt financing to expand its autonomous mission systems for defense and logistics applications.
Moore Strategic Ventures led the funding round with new investors Salesforce Ventures, Franklin Templeton, Balyasny Asset Management, 645 Ventures, Hanwha Asset Management, 9Yards Capital and NightDragon and existing investors XYZ Venture Capital, Hedosophia and Enlightenment Capital, Forterra said Wednesday.
Crescent Cove, which backed Forterra’s Series A in 2021, participated in the round and contributed both equity and debt.
How Will the Funding Support Forterra’s Defense Autonomy Goals?
“This funding propels Forterra’s mission to be the connective tissue of modern operations,” stated Josh Araujo, CEO of Forterra. “Our interoperable mission modules and autonomous stack are already enabling a new generation of platforms to move, sense and act without limits.”
Based in Clarksburg, Maryland, Forterra develops scalable hardware and software platforms that power self-driving land systems and robotic swarms, advancing interoperability and autonomy across military and industrial operations.
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Recent contract wins include a $114 million Army prime contract for autonomous breaching systems, a production deal with the Marine Corps for ROGUE Fires, Phase II of the Army’s GEARS program and a $4.8 million Army Uncrewed Systems Program award. Forterra has also forged partnerships with Volvo Defense, BAE Systems, CHAOS Industries and RTX’s Raytheon.
“Forterra has successfully delivered both the hardware and operating system needed for the future of autonomous ground operations,” said Robert Keith, partner at Salesforce Ventures. “They are among the few leading defense technology companies that have secured contracts with impactful programs of record. We’re excited to support this exceptional team on their growth journey.”
In October, Forterra acquired goTenna, developer of tactical mesh networking technology, as part of its effort to broaden its autonomous mission systems portfolio and communication capabilities.
