The capital will enable FORT to fast-track development of security solutions and broaden the reach of its safety and control platform for smart machines.
Philadelphia, PA (July 12, 2022) - FORT Robotics (FORT), a pioneer in communications and control for smart machines, today announced the close of a $25 million Series B funding round, led by Tiger Global. The company will use the funds to accelerate the rollout of its machine communications platform, which aims to make autonomous machines safer and more secure.
As the world experiences a massive shift toward autonomous and connected machinery in nearly every industry, FORT seeks to address the vulnerabilities of these systems with its platform for trusted machine communications. The FORT Platform fuses functional safety and cybersecurity principles to enable highly-reliable communication to, from, and between machines over any network. Messages sent with FORT's technology are timely, accurate, and secure. This added layer of trust makes it possible for smart machines to perform automated tasks with less risk to people and their environment.
"Working with FORT enables us to have a dedicated system for safety-critical control, which is really important for a large machine like ours. FORT also helped speed up our development and reduced overall risk for our team," said Steve Ilmrud, VP of Hexagon Metrology, a FORT customer since 2019.
FORT's platform technology is the foundation for its hardware solutions, including wireless emergency stops and remote control systems, that are used by industry leaders including Agility Robotics, Hexagon, Moog, and hundreds of others. With the new investment, FORT plans to expand its platform functionality and enhance security offerings to address growing demand from end users.
The company also announced that Sineesh Keshav, Managing Director, Chief Technology Officer of Prologis will join FORT's board. Prologis is an investor in FORT and participating in the Series B funding round. Prior to Prologis, Keshav held senior technology roles at Experian, Safeway, and American Express.
"Through Prologis Ventures, we are focused on supporting innovative and game-changing companies like FORT," Keshav commented. "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."
In speaking about their investment in FORT, Tiger Global added that "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," said Griffin Schroeder, Partner, Tiger Global.
The Series B brings the company's total funding raised to $41.5 million, and includes participation from Lemnos, GRIDS Capital, Creative Ventures, Compound, and Funders Club in addition to Tiger Global and Prologis.
For additional information about FORT, please visit www.fortrobotics.com.
FORT helps machine builders and users to reduce risk, accelerate development, and scale autonomous systems by enabling trusted communications and control for smart machines. The company's platform pairs functional safety and cybersecurity principles to ensure that critical information can be sent to, from, and between machines with the highest levels of trust. Founded in 2018 and based in Philadelphia, FORT provides solutions for hundreds of clients, including 60+ Fortune 1000-sized companies, in warehousing, construction, agriculture, transportation, and more.