Technology developer Forterra has successfully raised $238 million in a Series C funding round, combining equity and debt financing to aggressively expand its autonomous mission systems for defense and logistics applications. The substantial investment underscores growing confidence in the company’s crucial role in the future of military operations, particularly in the rapidly advancing sector of Defense Autonomy. This funding infusion propels the company’s ambition to become the essential link for modern operations by building an interoperable autonomous stack.
Accelerating Autonomous Capabilities
CEO Josh Araujo confirmed the company’s intent to utilize the capital to scale its innovative platforms. Forterra, based in Clarksburg, Maryland, develops scalable hardware and software that powers self-driving land systems and robotic swarms, driving significant advances in interoperability across military and industrial operations.
The company’s technology enables a new generation of platforms to move, sense, and act without human limits. This is vital for maintaining a technological edge, ensuring that current and future warfighting efforts effectively leverage uncrewed systems. The new capital will directly support the continued development and deployment of these complex Defense Autonomy solutions.
Major Contract Wins and Strategic Partnerships
Forterra has established a strong record of success with its government clients, having already secured several impactful programs of record. Its recent contract wins include a significant $114 million prime contract with the U.S. Army for autonomous breaching systems and a production deal with the U.S. Marine Corps for the ROGUE Fires system. Further success includes Phase II of the Army’s GEARS program and a $4.8 million award from the Army’s Uncrewed Systems Program.
Beyond government contracts, the company has forged strategic partnerships with major industry players like Volvo Defense, BAE Systems, CHAOS Industries, and RTX’s Raytheon. In a strategic move to broaden its technological scope, Forterra also acquired goTenna, a developer of tactical mesh networking technology, earlier in October, enhancing its communication capabilities essential for coordinated autonomous swarms.
Investor Confidence Drives Growth
The successful funding round saw major backing from a diverse group of investors. Moore Strategic Ventures spearheaded the effort, alongside new participants like Salesforce Ventures, Franklin Templeton, Balyasny Asset Management, 645 Ventures, Hanwha Asset Management, 9Yards Capital, and NightDragon. Existing investors, including XYZ Venture Capital, Hedosophia, and Enlightenment Capital, also participated.
Robert Keith, a partner at Salesforce Ventures, praised the company, stating that they successfully delivered both the hardware and the operating system needed for the future of autonomous ground operations. This strong support from both new and returning investors confirms Forterra’s leadership position in providing critical technology for the future of Defense Autonomy.
