FORT Robotics Public Debut: $557M Valuation, $201M Raise

FORT Robotics is set to enter the public markets through a business combination with Newbury Street II Acquisition Corp., a move that values the physical AI safety specialist at an enterprise valuation of approximately $556.6 million. This strategic transaction is anticipated to inject roughly $201 million in gross proceeds into the company, bolstering its capacity to advance critical safety infrastructure for autonomous systems.

The deal, which assigns FORT a pre-money equity valuation of $500 million, is expected to see the combined entity trade on the Nasdaq under the ticker symbol FROB. A significant portion of the capital infusion, around $31 million, is secured through committed equity investments from notable institutional backers including Tiger Global, Prologis Ventures, and Mark Cuban, alongside other investors who have also committed to non-redemption agreements. Following estimated transaction expenses, FORT anticipates approximately $182 million in net cash will be added to its balance sheet, assuming minimal shareholder redemptions.

This influx of capital is earmarked for accelerating the development of FORT's safety intelligence, observability, and cybersecurity software. The company also plans to expand its global go-to-market strategies and channel partner programs, while strategically pursuing acquisitions to further enhance its technological capabilities and market reach. Existing FORT shareholders are set to roll over their entire equity stake, retaining an estimated 67% ownership of the merged company at the transaction's conclusion, contingent on redemption levels.

Founded in 2018, FORT Robotics has established itself as a pioneer in developing a 'Trust Layer for Physical AI.' This machine- and application-agnostic safety infrastructure is designed to facilitate the secure operation of autonomous machines from diverse manufacturers within shared human-robot environments. The company's technological foundation is robust, supported by 25 patents and certified to the stringent Safety Integrity Level 3 under IEC 61508 standards, underscoring its commitment to safety and reliability in the rapidly evolving robotics sector.

The company's technology is already widely adopted, serving over 600 customers, including prominent names like Agility Robotics, Google DeepMind, Cobot, Zoox, Textron, and DoorDash. Deployments span more than 19,500 units across critical industries such as warehousing, transportation, manufacturing, construction, agriculture, mining, energy, and defense. This broad adoption highlights the increasing demand for robust safety solutions as physical AI systems become integral to industrial operations. In 2025, FORT reported impressive 62% year-over-year revenue growth, with a particularly strong 91% increase from enterprise clients spending over $100,000 annually, indicating significant traction with larger organizations.

FORT's strategic growth trajectory is further evidenced by its recent acquisition of Mapless AI, which integrated remote human-in-the-loop control and onboard active safety features into its platform. Additionally, a recent collaboration with NVIDIA through the Halos for Robotics ecosystem signals the company's commitment to leveraging cutting-edge partnerships to drive innovation. The transaction, unanimously approved by the boards of both companies, is projected to finalize in the fourth quarter of 2026, pending customary closing conditions including shareholder and regulatory approvals.