FORT Robotics Raises $20M from Tiger Global and Mark Cuban Companies for Physical AI Safety Layer

FORT Robotics announced approximately $20 million in additional investor commitments on October 22 to support its physical AI safety business ahead of a proposed public listing through Newbury Street II Acquisition Corp.

Tiger Global is leading an approximately $10 million financing, with participation from Mark Cuban Companies, that FORT expected to close during the announcement week. The financing would expand capital available for the company's next growth phase.

Separately, Tiger Global committed another $10 million to the previously announced common equity private investment in public equity, or PIPE. That investment is expected to close alongside the proposed business combination, rather than with the separate financing.

Together with earlier PIPE commitments, the announcement brings total committed capital connected with the proposed business combination to more than $50 million. These amounts represent commitments and expected financing, rather than confirmation that all proceeds have been received.

FORT intends to expand its team and operating capacity to meet customer demand. Target markets include warehousing, defense and construction, alongside other industries deploying increasingly autonomous machines that require safety, security and reliable operation.

The company's Trust Layer provides safety infrastructure for robotic systems. FORT reported deployments across more than 19,500 units serving over 600 customers, including Agility Robotics, DoorDash, Cobot, Zoox, Textron and Google DeepMind.

Samuel Reeves, Founder and CEO of FORT Robotics, said: "Tiger Global’s increased commitment gives us additional resources to scale our team and operating capacity as we respond to growing customer demand." Tiger Global first invested in FORT in 2022.

Following completion of the proposed merger, the combined company would be named FORT Robotics Holdings, Inc. and is expected to list on Nasdaq under FROB, subject to regulatory approvals. The proposed transaction has not yet closed.