today announced it’s $75 million Series B fundraise, which was more than 2.5x oversubscribed. The round was led by Moore Strategic Ventures, XYZ Venture Capital and Hedosophia Venture Capital with participation from Standard Investments and existing investors including, Crescent Cove Advisors, Enlightenment Capital and Four More Capital.
“Forterra has proven that self-driving technology can be deployed today to solve real-world challenges in demanding environments” said Josh Araujo, Forterra CEO. “We are committed to improving the lives and safety of soldiers, Marines, and industrial workers, by taking people out of harm’s way with AutoDrive. This funding allows us to further develop, test, and deploy self-driving platforms with ever-increasing capabilities for both defense and industrial applications.
Logan Ashcraft, Principal at Standard Investments, said, “We believe in the potential for autonomous technology to disrupt many high-cost, low-margin business models. In its approach to both industrial and off-road autonomy, Forterra is setting a new standard for excellence across logistics, industry, and defense. We’re excited to partner with the company in its next stage of growth.