Forterra, a Clarksburg, MD-based self-driving technology company, raised $75M in Series B funding.
The round was 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.
The company intends to use the funds to accelerate and scale the deployment of their autonomous driving system (ADS), AutoDrive®, with defense and industrial customers.
Led by CEO Josh Araujo Forterra, Forterra (formerly RRAI) is a provider of autonomous systems for ground-based movement in the working world. The company works is in the field of driverless technology, focused on building systems which protect front-line soldiers and enable civilian workers in our industrial base. It is a go-to provider of autonomous solutions for the U.S. Department of Defense, which harnesses autonomy for asymmetric warfare in critical conditions.
FinSMEs
11/09/2024