CompanyVerified
Forterra
Maryland-based autonomous ground-vehicle and mission-autonomy company (formerly Robotic Research), valued above $1B after a $238M Series C.
Forterra, founded in 2002 as Robotic Research by Alberto Lacaze and Karl Murphy and rebranded to Forterra in February 2024, is one of the largest providers of ground-robotics autonomy to the US Department of Defense, with Lacaze holding 100+ patents in the field. The company raised a $228M Series A (Dec 2021, led by SoftBank Vision Fund 2 and Enlightenment Capital), a $75M Series B (Sept 2024, led by Moore Strategic Ventures), and a $238M Series C (Nov 2025, led by Moore Strategic Ventures) that pushed its valuation past $1B, for reported total funding around $541M.
Overview
- Headquarters
- Clarksburg, MD
- Founded
- 2002
- Employees
- 450+ (self-reported)
- Total funding
- $541M
- Stage
- Series C
- Status
- active
- Domains
- Autonomous ground vehicles, Mission autonomy, Defense robotics
- Website
- www.forterra.com
Founders2
- FounderAlberto LacazeFounder, Chairman, and President of Forterra (formerly Robotic Research). BS Electrical Engineering and BS Computer Engineering, Florida Institute of Technology; MS Electrical Engineering, Drexel University. Former staff engineer at NIST. Holds 100+ patents in ground-robotics autonomy.
- FounderKarl MurphyCo-founder and Vice President of Forterra (formerly Robotic Research). MS Mechanical Engineering, Carnegie Mellon (1984); BS Mechanical Engineering, Virginia Tech (1981). At NIST, was Technical Lead for the Demo I/II/III/III+ DoD autonomy programs, precursors to the Future Combat Systems and PerceptOR programs.
Investors17
- FundSoftBank Vision Fund 2SoftBank's second Vision Fund (managed by London-based SB Investment Advisers UK); co-led Forterra's $228M Series A (Dec 2021) alongside Enlightenment Capital.
- FundEnlightenment CapitalPrivate investment firm focused on aerospace, defense, government and technology.
- FundStandard InvestmentsInvestment firm; participated in PhysicsX's Series A and Series B rounds, and in Forterra's Series A and Series B rounds.
- FundCrescent Cove AdvisorsSan Francisco-based growth-lending and private-capital firm; participated in Forterra's Series A, Series B, and Series C rounds, providing both debt and (in Series C) equity.
- FundHenry Crown and CompanyPrivately held, multi-generational Chicago family investment office (Crown family); largest shareholder of General Dynamics via its Material Service Corp. lineage; participated in Forterra's $228M Series A (Dec 2021).
- FundLuminar TechnologiesUS lidar company (NASDAQ: LAZR, now OTC Pink: LAZRQ) founded in 2012 by Austin Russell; participated in Robotic Research/Forterra's $228M Series A (Dec 2021) as its first strategic equity investment. Filed for Chapter 11 (Dec 2025) and sold lidar assets to MicroVision (closed Feb 2026).
- FundFour More CapitalChicago-based Crown-family investment vehicle; participated in Forterra's $75M Series B (Sept 2024).
- FundMoore Strategic VenturesLouis M. Bacon's private investment vehicle, distinct from his Moore Capital Management macro hedge fund; joined Adarga's Series A when it was upsized to £7M in November 2019.
- FundSalesforce VenturesCorporate VC investing in enterprise cloud including defense and national security tech.
- FundFranklin TempletonGlobal asset manager (~$1.66T AUM); new investor in Forterra's $238M Series C (Nov 2025), represented by Managing Director James Cross.
- FundBalyasny Asset ManagementHedge fund; new investor in Forterra's $238M Series C (Nov 2025).
- Fund645 VenturesEarly-stage venture capital firm based in New York and San Francisco; new investor in Forterra's $238M Series C (Nov 2025).
- FundHanwha Asset ManagementAsset management arm of the Hanwha Group; new investor in Forterra's $238M Series C (Nov 2025). Distinct from fund:hanwha-aerospace / company:hanwha-aerospace (the Korean defense manufacturer, a separate Hanwha Group entity).
- Fund9Yards Capital$1B+ venture/growth fund; new investor in Forterra's $238M Series C (Nov 2025).
- FundNightDragonCybersecurity/safety-focused investment firm; new investor in Forterra's $238M Series C (Nov 2025).
- FundXYZ Venture CapitalEarly-stage VC firm with deep public-sector/defense expertise (~20 Palantir-alumni portfolio companies incl. Anduril); co-led Forterra's $75M Series B (Sept 2024) and continued in its $238M Series C (Nov 2025); also a new participant in Valinor Enterprises' $54M Series A (Jan 2026).
- FundHedosophiaInvestment firm; co-led Forterra's $75M Series B (Sept 2024) and continued participating in its $238M Series C (Nov 2025).
Cap table0
Approximate ownership by holder. Indexed holders link to their records.
Raised per round
Raised: $238M
Percentages marked ~ are not disclosed. Some are a generic VC-pattern model (founders/team weighted heaviest, option pool lightest, other holders evenly) sized to whatever's left undisclosed — a standard industry shape, not this company's actual cap table.
| Holder | Instrument | Ownership |
|---|---|---|
Crescent Cove AdvisorsReinvested | Preferred (Series C, Follow-on, Equity & Debt) | ~8.3% |
Enlightenment CapitalReinvested | Preferred (Series C, Follow-on) | ~8.3% |
HedosophiaReinvested | Preferred (Series C, Follow-on) | ~8.3% |
XYZ Venture CapitalReinvested | Preferred (Series C, Follow-on) | ~8.3% |
NightDragonNew | Preferred (Series C) | ~8.3% |
| Preferred (Series C) | ~8.3% | |
| Preferred (Series C) | ~8.3% | |
645 VenturesNew | Preferred (Series C) | ~8.3% |
| Preferred (Series C) | ~8.3% | |
| Preferred (Series C) | ~8.3% | |
| Preferred (Series C) | ~8.3% | |
Moore Strategic VenturesReinvested | Preferred (Series C, Lead) | ~8.3% |
Contracts4
- ContractGEARS (Ground Expeditionary Autonomous Retrofit System) — Phase IIPhase II award for palletized-load autonomy under the Army's GEARS (Ground Expeditionary Autonomous Retrofit System) program, announced alongside — but separate from — Forterra's ~$114M 'Sandhills' autonomous-breaching prime contract and a $4.8M UxS contract; GEARS Phase II's own value has not been publicly disclosed.
- ContractArmy UxS Program — Autonomous Infantry Squad Vehicle (ISV)$4.8M U.S. Army UxS Program contract for autonomy on the Infantry Squad Vehicle (ISV).
- ContractROGUE-Fires Order (with Oshkosh Defense)$92M order for the ROGUE-Fires autonomous launcher system, won jointly with Oshkosh Defense.
- ContractSandhills — Robotic Breaching Systems Prime Contract~$114M U.S. Army prime contract for autonomous ground-vehicle breaching and terrain-shaping systems (Lancer AGVs, Polaris Ranger-based), awarded March 2025 as a $92,851,555 base action; distinct from Forterra's GEARS Phase II and $4.8M UxS awards announced the same day in Nov 2025, and from the July 2026 'Sandhills 2.0' follow-on.
Programs0
No linked records yet.
Frequently asked
- What does Forterra do?
- Forterra, founded in 2002 as Robotic Research by Alberto Lacaze and Karl Murphy and rebranded to Forterra in February 2024, is one of the largest providers of ground-robotics autonomy to the US Department of Defense, with Lacaze holding 100+ patents in the field. The company raised a $228M Series A (Dec 2021, led by SoftBank Vision Fund 2 and Enlightenment Capital), a $75M Series B (Sept 2024, led by Moore Strategic Ventures), and a $238M Series C (Nov 2025, led by Moore Strategic Ventures) that pushed its valuation past $1B, for reported total funding around $541M.
- Where is Forterra headquartered?
- Forterra is headquartered in Clarksburg, MD and was founded in 2002.
- How much funding has Forterra raised?
- Forterra has raised $541M in disclosed funding.
- What does Forterra specialize in?
- Forterra works across Autonomous ground vehicles, Mission autonomy, Defense robotics.
- Does Forterra hold government contracts?
- Defense Tech Atlas links Forterra to 4 government contracts.
Sources & citations8
8 sources behind every claim
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