FORT Robotics Secures $18.9 Million for Series B Funding, Totaling $60.5 Million

FORT Robotics Closes Additional $18.9 Million in Series B Funding

FORT Robotics, a leader in the field of safety solutions for intelligent machines, has recently announced an infusion of $18.9 million in their Series B funding round. This latest boost increases the total funding amount to an impressive $60.5 million since the company's inception. The initiative is led by Tiger Global, reflecting strong confidence from both new and existing investors in FORT's pivotal role within the rapidly advancing robotics and physical AI industry.

The robotics sector is at a crucial turning point, characterized by a significant increase in the deployment of autonomous systems across various industries, such as autonomous vehicles, agriculture, construction, defense, and factory automation. These sectors are increasingly reliant on FORT Robotics' solutions. The newly acquired capital will expedite the company's objective to equip machine builders and users with safe and dynamic control systems, especially as these autonomous technologies become more prevalent at global workplaces.

Samuel Reeves, the CEO of FORT Robotics, highlighted the overarching changes in the workplace landscape driven by robotics and physical AI. "As robot fleets expand and start collaborating with humans, the necessity for enhanced functional safety escalates. We're witnessing rapid growth from both new customers and longstanding users of our platform. We look forward to integrating new investors who share our vision for evolving workspaces, and we are grateful for the unwavering support from established partners such as Tiger Global," he stated.

Expansion of Leadership and Strategic Vision

In addition to securing new funding, FORT Robotics has announced the addition of three remarkable figures to its board of directors: Kirk D. Brown, who is the COO and CFO of SportsMedia Technology, Jorge Heraud, the CEO of TerraBlaster and the former head of automation at John Deere, and Benjamin G. Wolff, the President and CEO of Palladyne AI. These appointments are expected to provide significant strategic guidance as FORT Robotics enters a new phase of expansion.

Strategic Allocation of Funds

Investors' backing signifies a robust endorsement of FORT's role in securing the emerging robotics ecosystem, viewed as a key enabler for industry-scale success. The funding will be strategically allocated as follows:
1. Product Enhancement: The focus will be on augmenting existing product lines with new communication protocols, API integrations, and compliance on international standards.
2. Development of Cutting-Edge Safety Solutions: The aim is to advance FORT’s platform by integrating comprehensive data analytics and innovative safety solutions tailored to tackle the distinct challenges presented by physical AI.
3. Acceleration of Technological Growth: Investments will focus on expediting the growth trajectory of FORT's technology, thereby empowering machine builders and users with enhanced safety and dynamic control mechanisms.

Investor Remarks and Promising Future

Several returning investors, including Tiger Global and Prime Movers Lab, along with new investors such as Neman Ventures and Mana Ventures, have shown their commitment during this funding round. Shane Neman, CIO and General Partner of Neman Ventures, remarked, “At Neman Ventures, we seek to invest in companies pioneering transformative technology. FORT Robotics’ dedication to safety in physical AI completely aligns with our vision for the advanced automation landscape.”

Founded in 2018, FORT Robotics has already made significant strides in the industry, boasting over 500 customers and an estimated 12,000 deployed units, with 27 patents to its name. They specialize in maximizing collaboration between humans and machines while minimizing risks, ensuring the safety and productivity of people, assets, and data across various industries.

For more details about their revolutionary technologies and the role they play in enhancing safer working environments, visit fortrobotics.com.