TLDR:
- Forterra, a self-driving technology company based in Clarksburg, MD, raised $75M in Series B funding.
- The funding round was led by Moore Strategic Ventures, XYZ Venture Capital, and Hedosophia.
Forterra, a Clarksburg, MD-based self-driving technology company, recently secured $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 plans to use the funds to accelerate and scale the deployment of their autonomous driving system (ADS), AutoDrive®, primarily with defense and industrial customers. Led by CEO Josh Araujo, Forterra focuses on providing autonomous systems for ground-based movement in various sectors, including the U.S. Department of Defense. Their technology aims to protect front-line soldiers and enable civilian workers in industrial settings. Overall, Forterra is positioned as a leading provider of autonomous solutions in critical conditions.
