Forterra, a leading developer of autonomous and interoperable systems for defense and logistics, has announced the closure of a $238 million Series C funding round, comprising both equity and debt. The round was led by Moore Strategic Ventures, with participation from new investors including Salesforce Ventures, Franklin Templeton, Balyasny Asset Management, 645 Ventures, Hanwha Asset Management, 9Yards Capital, and NightDragon. Existing backers, including XYZ Venture Capital, Hedosophia, and Enlightenment Capital, also participated. And Crescent Cove doubled its commitment through both equity and debt financing, continuing its support since Forterra’s Series A in 2021.
Forterra’s mission is to establish the operational standard for autonomy across high-stakes and complex mission environments. The company’s systems are designed to automate vehicles and transform operations for fleets and missions, focusing on intelligence, adaptability, and uncompromising performance.
The new capital will accelerate Forterra’s innovation in communications and command and control systems while expanding production capacity for edge computing platforms that support defense and emerging mission domains. The funding builds upon the company’s growing momentum, highlighted by recent contract wins, strategic partnerships, and technology advancements.
In recent months, Forterra secured several major U.S. Department of Defense contracts, including the first ground autonomy production contract for ROGUE Fires with the Marine Corps, a $114 million Prime contract to deploy autonomous breaching systems for the Army, Phase II of the Army’s GEARS program, and a $4.8 million contract for the Army’s UxS Program. Additionally, the company expanded its product suite and acquired mobile mesh network company goTenna, strengthening its communications capabilities. Forterra has also announced partnerships with Volvo Defense, BAE Systems, CHAOS Industries, and RTX’s Raytheon as it continues to integrate its autonomous technologies across the defense ecosystem.
These developments reinforce Forterra’s position at the forefront of the rapidly evolving autonomous defense technology sector, where demand for interoperable, intelligent systems that can operate across complex missions and command structures is accelerating.
KEY QUOTES:
“Autonomous systems are an operational imperative. This funding propels Forterra’s mission to be the connective tissue of modern operations. Our interoperable mission modules and autonomous stack are already enabling a new generation of platforms to move, sense and act without limits.”
Josh Araujo, CEO of Forterra
“Forterra has successfully delivered both the hardware and operating system needed for the future of autonomous ground operations. They are among the few leading defense technology companies that have secured contracts with impactful programs of record. We’re excited to support this exceptional team on their growth journey.”
Robert Keith, Partner at Salesforce Ventures
“Forterra’s momentum—spanning contracts, partnerships, and new capabilities—shows they can field interoperable autonomy at scale. We’re thrilled to partner with Forterra as they build a category-defining company.”
James Cross, Managing Director at Franklin Templeton
