Forterra Raises $238 Million From Investors Including Moore Strategic Ventures At $1 Billion Valuation

Forterra, a Maryland-based startup developing autonomous military vehicles, has raised $238 million in a funding round led by Moore Strategic Ventures, lifting its valuation above $1 billion. The company’s vehicles can operate individually or in coordinated “swarms” for missions such as surveillance, missile transport, and AI support, with hundreds already deployed in active operations. Chief Executive Officer Josh Araujo described the vehicles as a “Swiss army knife” of military autonomy, and said the new funds will be used to double production to 1,000 systems next year while expanding mission capabilities. Other participants in the round included Franklin Templeton, Salesforce Ventures, Balyasny Asset Management, and existing in FOUNDER: Alberto Lacaze INVESTORS: Moore Strategic Ventures, Franklin Templeton, Salesforce Ventures, Balyasny Asset Management L.P., 645 Ventures, Hanwha Asset Management, 9Yards Capital, NightDragon, XYZ Venture Capital, Hedosophia, Enlightenment Capital & Crescent Cove Advisors LP AMOUNT: $238,000,000 VALUATION: $1,000,000,000 HQ: #Clarksburg #Maryland #VentureCapital #Forterra #AlbertoLacaze #MooreStrategicVentures #FranklinTempleton #SalesforceVentures #BalyasnyAssetManagement #645Ventures #HanwhaAssetManagement #9YardsCapital #NightDragon #XYZVentureCapital #Hedosophia #EnlightenmentCapital #CrescentCoveAdvisorsLP #TradedVC