Forterra, a Maryland-based developer of autonomous military vehicle technology, has secured $238 million in new funding. This round pushes its valuation past the $1 billion mark, making it a unicorn. The round was led by Moore Strategic Ventures and it includes $50 million in debt. Franklin Templeton, Salesforce Ventures, and several others joined the latest round.
It positions the company to rapidly scale what CEO Josh Araujo calls the “Swiss army knife” of modern battlefield vehicles.
The new funding will help Forterra double production to 1,000 units next year, an aggressive scale-up aligned with evolving Pentagon needs. The company plans to expand the types of missions its systems can support, including missile launches, mobile AI operations, and other advanced combat capabilities.
Building the future of autonomous warfare
Founded by Alberto Lacaze and Karl Murphy in 2002, Forterra develops technology that allows vehicles to operate independently, in coordinated teams, or in full swarm formations. These systems conduct surveillance, transport sensitive equipment, and even carry missile payloads or computing hardware to support advanced military operations.
The company’s software enables warfighters to control any vehicle integrated with Forterra’s sensors, communications tools, and modular hardware. It currently employs around 500 people and partners with major defence manufacturers, including Volvo Defence, Oshkosh Defence, and Raytheon, to integrate its systems.
Hundreds of Forterra-equipped vehicles are already deployed, demonstrating real-world performance at a time when defence innovation has become a top investment priority. Venture firms like General Catalyst and Andreessen Horowitz have poured capital into the sector as global tensions rise and the Pentagon embraces faster, startup-friendly procurement processes.
A notable moment for defence startups
What was once a niche bet has become a booming investment category. With $28 billion invested in defence tech so far this year, according to PitchBook, Forterra’s rise signals how quickly autonomous systems are becoming central to national security strategies.
With fresh capital, expanding partnerships, and growing demand, the company is positioning itself as a key player in the next generation of battlefield technology.
