FORT Robotics has secured roughly $20 million in new funding to accelerate its path to becoming the first public company focused on physical AI safety. The capital will support the robotics firm as it prepares for a business combination with Newbury Street II Acquisition Corp.
Tiger Global is leading an approximately $10 million financing, with participation from Mark Cuban Companies. This deal is expected to close this week. Tiger Global has also committed another $10 million to the previously announced common equity PIPE, which is tied to the proposed merger with Newbury Street II Acquisition Corp (Nasdaq: NTWO). These new commitments bring the total capital pledged for the business combination to more than $50 million.
The company plans to use the additional funds to grow its team and increase operating capacity. Management aims to meet rising demand from customers in sectors such as warehousing, defense, and construction, where autonomous systems are becoming more common. FORT’s Trust Layer acts as core safety infrastructure for robots, currently installed in over 19,500 units. The platform serves a global customer base of more than 600, including Agility Robotics, DoorDash, Cobot, Zoox, Textron, and Google DeepMind.
Once the business combination closes, the combined entity will be named FORT Robotics Holdings, Inc. It is expected to trade on the Nasdaq Stock Market under the ticker symbol “FROB,” pending regulatory approvals.
Griffin Schroeder, a Partner at Tiger Global, said FORT plays a key role in building an independent safety layer that is essential for physical AI adoption. He noted that the firm’s continued investment reflects confidence in FORT’s progress. Tiger Global has backed FORT since 2022, when it led the Series B round. This latest investment follows recent milestones, including an expanded partnership with Agility Robotics and the launch of FORT’s Connectivity Aggregation software product.
Samuel Reeves, Founder and CEO of FORT Robotics, stated that expanding automation across industries creates a significant need for solutions that ensure intelligent machines are safe and reliable. Reeves said the increased commitment from Tiger Global provides the resources needed to scale operations in response to growing customer demand.
Newbury Street II Acquisition Corp is a blank check company led by Chief Executive Officer Thomas Bushey. In connection with the business combination, Newbury Street II and FORT have confidentially submitted a draft Registration Statement on Form S-4 to the SEC. The companies intend to publicly file this registration statement, which will include a proxy statement for Newbury Street II shareholders and a prospectus for the securities to be issued in the transaction.