Total amount raised
$38 Millions
Latest funding date
07/01/2022
Location
Title
FORT Robotics has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company specializes in providing safety and security solutions for smart machines and autonomous systems.
Keep reading to explore the intricacies of FORT Robotics' fundraising journey and the investors backing this innovative platform.
What Is FORT Robotics?
FORT Robotics, founded in 2018, is based in Philadelphia, Pennsylvania. The company was established by Samuel Reeves, who envisioned a safer future for smart machines and autonomous systems.
Specializing in safety and security solutions, FORT Robotics offers products like wireless emergency stops, remote controls, and safety controllers. Their control platform ensures secure and dynamic control over wireless networks.
With a dedicated team of around 50 employees, FORT Robotics continues to innovate in the field of robotics safety, serving various industries including agriculture, construction, and defense.
How Much Funding Has FORT Robotics Raised?
- Series A Round
- Amount Raised: $13 million
- Date: March 2021
- Lead Investors: Prime Movers Lab
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development and deployment of Fort's safety software.
- Series B Round
- Amount Raised: $25 million
- Date: July 12, 2022
- Lead Investors: Tiger Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up the deployment of Fort's safety systems to meet the demands of the next generation of smart machines.
Total amount raised: $38 million. Current valuation: Not publicly disclosed.
Key Investors
- Tiger Global
- Details: Tiger Global is a leading investment firm focused on public and private companies in the global Internet, software, consumer, and financial technology industries. They led the $25 million Series B funding round for FORT Robotics.
- Investment Focus Areas: Technology, software, consumer, financial technology
- Notable Investments: Facebook, LinkedIn, Spotify
- Prime Movers Lab
- Details: Prime Movers Lab invests in breakthrough scientific startups founded by inventors who transform billions of lives. They led the $13 million Series A funding round for FORT Robotics.
- Investment Focus Areas: Human augmentation, energy, transportation, infrastructure, manufacturing, agriculture
- Notable Investments: Vicarious Surgical, ZeroAvia
- Quiet Capital
- Details: Quiet Capital is an early-stage venture capital firm that invests in technology companies. They participated in the Series A funding round for FORT Robotics.
- Investment Focus Areas: Technology, early-stage startups
- Notable Investments: Robinhood, Flexport
- Lemnos Labs
- Details: Lemnos Labs is a venture capital firm that focuses on hardware and robotics startups. They participated in the Series A funding round for FORT Robotics.
- Investment Focus Areas: Hardware, robotics, early-stage startups
- Notable Investments: Airware, Marble
- Mark Cuban
- Details: Mark Cuban is a renowned entrepreneur and investor, known for his investments in technology and media companies. He participated in the Series A funding round for FORT Robotics.
- Investment Focus Areas: Technology, media, startups
- Notable Investments: Magnolia Pictures, AXS TV
What's Next for FORT Robotics?
FORT Robotics stands at the cusp of a significant opportunity, driven by the increasing demand for safe human-robot interactions in industries like warehousing, construction, and agriculture. The ongoing labor shortages further amplify the need for automation, positioning FORT's safety and cybersecurity solutions as essential for companies investing in robotics.
With a successful Series B funding round, future fundraising opportunities are likely, potentially attracting more venture capital or strategic investments. However, the company must navigate challenges such as ensuring the scalability of its solutions and addressing evolving cybersecurity threats. As the market for industrial robotics safety grows, FORT's ability to maintain high safety standards will be crucial.
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