Funding round
Forterra Series A
Forterra, which works in autonomous systems development in Clarksburg, raised $228M in a Series A round announced on 9 Dec 2021, led by SoftBank Vision Fund and Enlightenment Capital. 6 firms took part. It is Forterra's first venture round on record.
$228M
Amount raised
Not disclosed
Post-money valuation
6
Investors
2 leads
Valuation
What this round says about the price
Forterra did not disclose a valuation in this round. It is Forterra's first venture round on record, 19 years after it was founded in 2002. It is 42% of the $541M Forterra has raised in the venture rounds on record. Forterra raised again 33 months later: a Series B round of $75M in Sep 2024. Its next priced round, a Series C in Nov 2025, valued it at $1.00B.
Forterra's funding rounds
Forterra has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
SoftBank Vision Fund and Enlightenment Capital led the round with 4 other firms.
Lead investors
- SoftBank Vision Fund backs 234 venture-backed companies new investor
- backs 4 venture-backed companies new investor
Also in the round
- backs 9 venture-backed companies new investor
- Henry Crown and Company new investor
- Luminar Technologies new investor
- backs 25 venture-backed companies
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
34 Series A rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $21M, and this round was 11 times the median. The closest in time, other companies' Series A rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Stoke Space Aerospace and Defence | 15 Dec 2021 | $65M | not disclosed | Breakthrough Energy |
| Aerospace and Defence | 13 Dec 2021 | $1.0M | not disclosed | Hardcastle Petrofer |
| Sierra Space Aerospace and Defence | 19 Nov 2021 | $1.40B | $4.50B | General Atlantic and Coatue |
| Aerospace and Defence | 16 Nov 2021 | $20M | not disclosed | Chartered Group |
| Aerospace and Defence | 4 Nov 2021 | $15M | not disclosed | Prime Movers Lab |
| Aerospace and Defence | 14 Oct 2021 | $40M | not disclosed | Prime Movers Lab |
| Aerospace and Defence | 20 Oct 2021 | $28M | not disclosed | New Legacy |
| Aerospace and Defence | 12 Oct 2021 | $25M | not disclosed | Index Ventures |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Forterra raise in its Series A round?
Forterra raised $228M in its Series A round, announced in Dec 2021.
Who led Forterra's Series A round?
SoftBank Vision Fund and Enlightenment Capital led it, with Crescent Cove, Henry Crown and Company, Luminar Technologies and Luminar Ventures.
What was Forterra's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Aerospace and Defence?
34 Series A rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $21M, and this round was 11 times the median.
Did Forterra raise again after this round?
Yes: a Series B round in Sep 2024 of $75M.