Forterra Raises $75M in Series B Funding to Scale Autonomous Driving System Deployment
Forterra specializes in self-driving technology aimed at military and industrial applications.
Company Name: Forterra
Location: Clarksburg, MD
Sector: Autonomous Driving Technology, Defense, Industrial Automation
Funding Details: Raised $75 million in Series B funding led by Moore Strategic Ventures, XYZ Venture Capital, and Hedosophia, with participation from Standard Investments and existing investors, including Enlightenment Capital, Crescent Cove Advisors, and Four More Capital.
Purpose of Investment: The company plans to use the funds to accelerate and scale the deployment of their autonomous driving system (ADS), AutoDrive®, with defense and industrial customers.
Product and Innovation: Led by CEO Josh Araujo, Forterra (formerly RRAI) provides cutting-edge autonomous systems for ground-based movement in defense and industrial sectors. The company’s flagship product, AutoDrive®, offers advanced autonomous driving capabilities designed to protect front-line soldiers and enable workers in industrial environments. Forterra’s technology is particularly focused on supporting the U.S. Department of Defense by leveraging autonomy for asymmetric warfare in critical conditions, ensuring safer and more efficient ground-based operations.
About the Company: Forterra specializes in self-driving technology aimed at military and industrial applications. Its mission is to develop autonomous solutions that enhance safety and productivity for both defense personnel and civilian workers. The company is a trusted provider of autonomous systems to the U.S. Department of Defense, pushing the boundaries of driverless technology in high-stakes environments.