Listen to this article
FORT Robotics announced that it raised $25 million in a Series B funding round. The round was led by Tiger Global.
FORT plans to use the funding to accelerate the rollout of its machine communications platform, the FORT Platform, expand its platform’s functionality and enhance new security offering to address growing demands from end-users.
The FORT Platform is aimed at making autonomous machines safer and more secure. It allows for highly reliable communication to, from and between machines by fusing functional safety and cybersecurity principals. All messages sent with the platform are speedy, accurate and secure.
“Smart machines are transforming the world, but they come with unprecedented safety and security risks,” Samuel Reeves, Founder and CEO of FORT, said. “There’s a massive need for these machines to communicate in a trustworthy way, and it’s something that’s yet to be addressed in the industry. This investment will allow us to scale up to meet the demands of the next generation of smart machines.”
The FORT Platform is the foundation for FORT’s hardware solutions, which are used by customers like Agility Robotics, Hexagon and Moog. FORT’s hardware solutions include a wireless e-stop which instantly stops machines from a distance, safe remote controls that take manual control of autonomous machines and a vehicle safety controller that can act as an input, output or bridge.
“Trust in machine communications is vital as the number of autonomous systems deployed in the real world multiplies exponentially. FORT’s platform is already being utilized by some of the biggest names in automation, and we are thrilled to be a part of their continued growth,” Griffin Schroeder, partner at Tiger Global, said.
In total, the company has raised $41.5 million, its last funding round closed in March 2021 and totalled $13 million. Lemnos, GRIDS Capital, Creative Ventures, Compound, Prologis and Funders Club also participated in the funding.
Along with the funding, FORT announced that Sineesh Keshav, the managing director and chief technology officer at Prologis, will join FORT’s board.
“Through Prologis Ventures, we are focused on supporting innovative and game-changing companies like FORT,” Keshav said. “Over the years, a lot of work has gone into protecting networks, users and critical data in the enterprise from cyber threats. I’m delighted to join the FORT board and help support the company’s work to extend the existing cybersecurity boundaries to the smart machine landscape using their deep background in machine safety as a unique differentiator.”
Tell Us What You Think!