Forterra
This company is in the pipeline of America 2030, IPO CLUB’s $50M, actively managed secondary fund focused on U.S. defense, energy, security, and AI.
Updated in November, 2025
Headquarter: Clarksburg, MD
Year Founded: 2002 (originally as Robotic Research Autonomous Industries; rebranded Forterra in 2024)
Employees: ~270 | 2025
Business Status: Growth-stage, expanding deployment of autonomous vehicle systems
Industry Sectors: Defense, industrial autonomy, and logistics technology. Develops next-generation autonomous driving systems for military and commercial ground vehicles — including off-road, GPS-denied, and convoy applications
What is Forterra?
Forterra is a Maryland-based defense and industrial autonomy technology company focused on delivering next-generation autonomous driving systems for ground vehicles. Founded by Alberto Lacaze (formerly of Robotic Research), the company develops platform-agnostic, ruggedized autonomy solutions for both military and commercial fleets. Its systems are designed for GPS-denied, off-road, and contested environments, serving critical logistics and tactical missions globally. Forterra’s technologies are currently deployed in ten countries, supporting U.S. and allied operations.
Why do we like it?
Forterra combines deep defense autonomy expertise with a scalable dual-use business model that bridges military-grade reliability into commercial logistics markets. The company has achieved extensive field validation—over 400,000 autonomous miles across defense programs—and is embedded in multiple DoD initiatives such as RCV, SMET, and ROGUE Fires. OEM partnerships with Kalmar, Oshkosh Defense, and BAE Systems create commercial leverage and operational credibility. With $303M raised and an enterprise value near $650M, Forterra is positioned as a leading U.S. private player in autonomous ground mobility, offering strong exposure to defense modernization and industrial automation trends.
What do they do?
Forterra builds and deploys AutoDrive, a full-stack, plug-and-play autonomy suite, and TerraLink, a mission-planning and vehicle control platform. AutoDrive® integrates LiDAR, radar, cameras, GPS, and onboard computing to enable fully or semi-autonomous operation across terrains and visibility conditions. TerraLink provides centralized oversight, mission assignment, and coordination across multiple vehicles in real time. Forterra’s software stack supports both defense and industrial customers, enabling autonomy retrofits on legacy fleets or integration into new OEM platforms.
What is the opportunity?
Forterra operates at the intersection of defense automation and industrial logistics—a rapidly expanding market where rugged autonomy is mission-critical. Near-term growth comes from scaling across U.S. Army and allied programs-of-record while expanding commercial deployments through OEMs like Kalmar in ports and logistics centers. Its dual-use model allows efficient R&D reuse and faster time-to-market across sectors. As DoD autonomy budgets grow and industrial logistics adopt autonomous yard and terminal vehicles, Forterra stands to capture significant share through proven technology and interoperability with both legacy and next-gen systems.
Business status / operations
Forterra is integrated into major U.S. defense autonomy programs under Army Futures Command’s UxS Autonomy Program, and multiple Marine Corps and DIU pilot efforts. Its technology powers over two dozen platforms across the DoD. Commercially, it collaborates with Kalmar, Oshkosh Defense, and BAE Systems for port automation, industrial logistics, and commercial retrofits. The company employs between 200 and 500 staff specializing in autonomy engineering, AI perception, and logistics systems, and continues scaling global deployments of AutoDrive® and TerraLink.
Recent financing and investors
Forterra closed a $75M Series B round in September 2024 (2.5× oversubscribed), bringing total funding to $303M. Lead investors include Moore Strategic Ventures, XYZ Venture Capital, Hedosophia, Standard Investments, Enlightenment Capital, and Four More Capital. The financing values the company at approximately $645M enterprise value and $527M market capitalization (as of September 2025). Funds are being deployed toward OEM integration, product development, and international scaling.
Competitive landscape
Key competitors include Anduril (Lattice OS), Palantir (Apollo), Applied Intuition, Scale AI, and Kodiak Robotics. Forterra differentiates itself through proven ruggedization, GPS-denied operation capability, and platform-agnostic retrofits. Its field record and defense-grade reliability provide a strategic moat relative to software-only or highway-focused autonomy competitors. Compliance with Army, DIU, and NATO interoperability standards strengthens its readiness for programs-of-record and large-scale defense procurement.
Forterra autonomous mission planning interface
Josh Araujo, CEO, and Scott Sanders, Chief Growth Officer of Forterra, share how their autonomous vehicle technology is shaping the future of defense and commercial industries.
This company is in the pipeline of America 2030, IPO CLUB’s $50M, actively managed secondary fund focused on U.S. defense, energy, security, and AI.
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