Philadelphia startup Fort Robotics closed a $25 million funding round to accelerate the rollout of its platform aimed at making autonomous machines safer and more secure.
The Series B financing was led by Tiger Global with participation from existing investors Prologis, Lemnos, Creative Ventures, Compound, and FundersClub. GRIDS Capital also participated in the latest round.
Fort also said on Tuesday that Sineesh Keshav, chief technology officer at Prologis, will join the company's board. San Francisco-based Prologis is the world's largest retail investment trust.
The Series B brings the company’s total funding raised to $41.5 million since its inception in 2018. Fort closed a $13 million investment round in March 2021 that included billionaire Mark Cuban, owner of the NBA's Dallas Mavericks and a celebrity investor on the hit ABC series "Shark Tank."
Fort offers cybersecurity and safety products to prevent critical failures of autonomous machinery, like wireless emergency stops, remote controls and network products. Industrial worksites using automation now have robots that are mobile, driven by artificial intelligence, connected to the internet and work around people, and with that comes risk, Fort Robotics founder and CEO Samuel Reeves previously told the Business Journal.
Fort's clients include over 60 Fortune 1000-sized companies in warehousing, construction, agriculture, transportation, and more.
The company last year relocated from Old City to a full floor at 1608 Walnut St. near Rittenhouse Square to help accommodate growth.
