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Fort Robotics announced commitments for approximately $20 million in additional investment from existing investors, with Tiger Global leading approximately $10 million and Mark Cuban Companies participating, expected to close this week. The report also said Tiger Global is adding another $10 million to the PIPE associated with the merger with Newbury Street II Acquisition Corp, bringing total committed funding for the transaction to more than $50 million. Fort Robotics' Trust Layer has been deployed on more than 19,500 devices, serving over 600 customers; after the merger, the combined company plans to list on Nasdaq under the ticker "FROB".
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Fort Robotics Secures Approximately $20 Million in Additional Financing, Led by Tiger GlobalDevelopments
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Fort Robotics secures approximately $20 million in additional financing
Source:Robotics & Automation News
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Oct 28
Robotics & Automation News
Fort Robotics Secures Approximately $20 Million in Additional Financing, Led by Tiger Global
Fort Robotics has received approximately $20 million in additional investment from existing investors, with Tiger Global leading approximately $10 million and Mark Cuban Companies participating, expected to close this week. Tiger Global is additionally contributing another $10 million to the PIPE related to the merger with Newbury Street II Acquisition Corp, bringing total committed funding for the transaction to over $50 million. Fort's Trust Layer has been deployed on more than 19,500 devices, serving over 600 customers, and the combined company plans to list on Nasdaq under the ticker "FROB".