PHILADELPHIA, PA — FORT Robotics has secured approximately $20 million in additional investment commitments from existing backers, including Tiger Global and Mark Cuban Companies, as the Philadelphia-based robotics safety technology company prepares to become publicly traded through a merger with Newbury Street II Acquisition Corp. (Nasdaq: NTWO).
The new commitments bring total capital pledged in connection with FORT’s proposed business combination to more than $50 million, providing additional financing for expansion into markets deploying autonomous machines and artificial intelligence-enabled robotics.
Tiger Global is leading an approximately $10 million financing round, with participation from Mark Cuban Companies, that FORT expects to close this week. Tiger Global has separately committed another $10 million to a previously announced private investment in public equity, or PIPE, expected to close alongside the merger.
The financing commitments remain distinct from completed funding, with the additional PIPE investment contingent on the proposed transaction closing.
FORT plans to use the capital to expand its workforce and operating capacity while pursuing customers in warehousing, defense, construction and other industries adopting autonomous equipment.
The company develops safety technology intended to provide independent control and protection functions for robotic systems operating in industrial and commercial environments.
Its Trust Layer platform is deployed across more than 19,500 units serving over 600 customers worldwide, according to FORT. The company identified Agility Robotics, DoorDash, Cobot, Zoox, Textron and Google DeepMind among its customers.
FORT’s business model centers on supplying safety infrastructure to manufacturers and operators of autonomous systems rather than developing the machines themselves.
The company has also expanded its partnership with Agility Robotics and introduced Connectivity Aggregation software as part of its broader technology offering.
“Automation and autonomy are expanding across nearly every major industry, creating a significant need for solutions that make intelligent machines safe, secure, and reliable,” stated Samuel Reeves, FORT’s founder and chief executive officer.
Tiger Global has backed FORT since 2022, when it led the company’s Series B financing round.
Griffin Schroeder, a partner at Tiger Global, described the company’s safety technology as “an independent safety layer that is foundational” to the adoption of physical AI.
Under the proposed business combination, FORT would merge with Newbury Street II Acquisition Corp., a publicly traded special purpose acquisition company.
Following completion, the combined business would operate as FORT Robotics Holdings Inc. and is expected to trade on the Nasdaq Stock Market under the ticker symbol FROB, subject to regulatory approvals.
The transaction would establish a publicly traded company focused principally on safety technology for physical AI systems, although its completion remains subject to the applicable closing conditions.
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