Via fortrobotics.com
The Philadelphia-based physical AI safety firm is going public through a merger with Newbury Street II Acquisition Corp., targeting a $500M valuation.
There are roughly 19,000 Fort Robotics devices currently keeping autonomous machines from doing something catastrophic in the real world. Soon, investors will be able to bet on that mission directly.
Fort Robotics, a Philadelphia-based safety and security platform for autonomous systems, is planning to list on the Nasdaq under the ticker symbol FROB through a merger with Newbury Street II Acquisition Corp. The deal values the combined company at approximately $500 million.
The SPAC merger is expected to be announced around August 18, 2026, and would make Fort Robotics what the company describes as the first publicly traded firm focused specifically on the safe deployment of physical AI.
What Fort Robotics actually does #
The company builds wireless emergency stops, vehicle safety controllers, and a software platform called FORT Manager. Its products carry SIL 3 certification, a rigorous industrial safety standard that covers the most demanding risk environments.
CEO Samuel Reeves founded the company in 2018, originally working on landmine clearance robotics before pivoting toward the commercial autonomous machine market. The company holds more than 25 patents and has deployed devices across more than 600 customers, including Fortune 500 companies operating in manufacturing, logistics, and agriculture.
With roughly 52 employees, Fort is a lean operation relative to its ambitions.
The funding trail and strategic moves #
Fort Robotics has raised $60.5 million in total venture funding before this public market push. The most recent round, an $18.9 million Series B, closed on August 6, 2025, with Tiger Global and Mark Cuban among the backers.
On May 27, 2026, Fort acquired Mapless AI, a move designed to strengthen its remote supervision capabilities.
The SPAC route itself is worth noting. SPAC mergers fell sharply out of favor after the 2021 boom turned to bust, leaving a trail of de-SPAC companies trading at fractions of their merger valuations. The $500 million target will need to hold up against that scrutiny once investors get a look at the company’s revenue figures, which have not been publicly disclosed.
Why the timing matters #
Regulatory pressure is accelerating that demand. Governments in the US, Europe, and Asia are tightening safety requirements for autonomous systems operating near humans. Companies deploying those systems need certified, auditable safety solutions, and Fort’s SIL 3-certified product line positions it directly in that compliance conversation.
For investors evaluating FROB, the questions will center on revenue growth rate, gross margins on the hardware versus software mix, and how aggressively the company can expand its 600-customer base now that it has the Mapless AI remote supervision capability integrated. A public listing also brings a public income statement, which will either validate the $500 million valuation or put pressure on it fast. Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our