Funding round
Forterra Series B
Forterra, which works in autonomous systems development in Clarksburg, raised $75M in a Series B round announced on 10 Sep 2024, led by Moore Strategic Ventures, XYZ and Hedosophia. 7 firms took part, 3 of them already investors. It is Forterra's second venture round on record; the one before was a Series A in Dec 2021.
$75M
Amount raised
Not disclosed
Post-money valuation
7
Investors
3 leads
Valuation
What this round says about the price
Forterra did not disclose a valuation in this round. It came 33 months after Forterra's Series A. It is 14% of the $541M Forterra has raised in the venture rounds on record. Forterra raised again 14 months later: a Series C round of $238M in Nov 2025, at $1.00B post-money.
Forterra's funding rounds
Forterra has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
Moore Strategic Ventures, XYZ and Hedosophia led the round with 4 other firms. Enlightenment Capital, Crescent Cove and Four More Capital had backed Forterra before.
Lead investors
- Moore Strategic Ventures new investor
- backs 69 venture-backed companies new investor
- Hedosophia new investor
Also in the round
- Standard Investments new investor
- backs 4 venture-backed companies existing investor
- backs 9 venture-backed companies existing investor
- Four More Capital existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, scaling operations and working capital.
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
36 Series B rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $93M, and this round was 81% of the median. The closest in time, other companies' Series B rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Quantum Systems Aerospace and Defence | 30 Sep 2024 | $112M | not disclosed | Notion Capital and Porsche SE |
| Impulse Space Aerospace and Defence | 1 Oct 2024 | $150M | not disclosed | Founders Fund |
| Aerospace and Defence | 1 Oct 2024 | $61M | not disclosed | Maezawa Fund Inc. |
| Saronic Technologies Aerospace and Defence | 19 Jul 2024 | $175M | $1.00B | Andreessen Horowitz |
| The Exploration Company Aerospace and Defence | 18 Nov 2024 | $160M | not disclosed | Balderton Capital and Plural |
| CHAOS Industries Aerospace and Defence | 13 Nov 2024 | $145M | not disclosed | Accel |
| Aerospace and Defence | 1 Nov 2024 | $13M | not disclosed | Adara Ventures and Molten Ventures |
| Aerospace and Defence | 21 Nov 2024 | $4.0M | not disclosed | Impact Capital Limited |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Forterra raise in its Series B round?
Forterra raised $75M in its Series B round, announced in Sep 2024.
Who led Forterra's Series B round?
Moore Strategic Ventures, XYZ and Hedosophia led it, with Standard Investments, Enlightenment Capital, Crescent Cove and Four More Capital.
What was Forterra's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Aerospace and Defence?
36 Series B rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $93M, and this round was 81% of the median.
Did Forterra raise again after this round?
Yes: a Series C round in Nov 2025 of $238M at $1.00B post-money.