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FORT Robotics Secures $20 Million in Funding from Tiger Global and Mark Cuban
FORT Robotics secured $20 million in funding from Tiger Global and Mark Cuban to expand its safety technology for autonomous machines.
Key points
- FORT Robotics is merging with Newbury Street II Acquisition Corp to trade on the Nasdaq under the ticker FROB.
- Total committed PIPE capital for the proposed business combination now exceeds $50 million.
- The company's safety infrastructure is used by clients such as Agility Robotics, Zoox, and Textron.
Why it matters. The funding and proposed public listing may allow FORT Robotics to expand its safety infrastructure as more industries adopt physical AI and autonomous machines.
Philadelphia-based FORT Robotics secured approximately $20 million in financing commitments from Tiger Global and Mark Cuban Companies this week. Tiger Global led a $10 million round and committed another $10 million to a PIPE financing linked to a merger with Newbury Street II Acquisition Corp. The company, which holds 25 patents, reports deploying technology across 19,500 units for 600 customers including Google DeepMind and DoorDash.
Latest updates
FORT Robotics Secures $20 Million in Funding from Tiger Global and Mark Cuban
FORT Robotics has secured roughly $20 million in additional financing commitments from its existing investor base. The funding round includes $10 million led by Tiger Global, with further participation from Mark Cuban Companies. The Philadelphia-based firm specializes in safety technology for robotics systems and autonomous machines. The capital will be used to scale its safety solutions for industrial automation.