What happened
FORT Robotics, a safety platform for autonomous machines, entered a definitive agreement to merge with Newbury Street II Acquisition Corp and go public on Nasdaq under ticker "FROB". The combined company is valued at a pro-forma enterprise value of $556.6 million, with the transaction expected to close in Q4 2026 and deliver approximately $182 million in net cash to the balance sheet post-transaction costs.
Why it matters
FORT provides a "trust layer" — foundational safety infrastructure — that lets robots from different makers operate safely alongside humans. With 62% year-over-year revenue growth in 2025 and 66% gross margins, the company is positioned to capitalize on the physical AI expansion across industries, addressing a critical regulatory and operational need as autonomous systems scale beyond pilot programs.
What to watch
The transaction requires Nasdaq approval and SEC review of the registration statement, with closing targeted for Q4 2026. FORT plans to use proceeds to accelerate product development in safety intelligence, cybersecurity, and observability software, as well as scale global go-to-market efforts and pursue targeted acquisitions.
Summaries like this, in your inbox every morning.
FORT Robotics has built a platform addressing a fundamental challenge in physical AI adoption: how to ensure autonomous machines operate safely at scale. Founded in 2018 by Samuel Reeves (whose previous company, Humanistic Robotics, built landmine-clearing robots), FORT has grown to serve over 600 customers including major players like Google DeepMind, Zoox, DoorDash, and Ocado. The company's growth trajectory — 62% revenue growth in 2025 with 66% gross margins and only 19% operating expense growth — reflects both strong market demand and operational discipline.
The timing of this IPO aligns with what the company and its backers see as a critical inflection point in robotics. As physical AI systems move beyond isolated pilots into real industrial infrastructure, the safety and regulatory requirements become paramount. FORT's platform has already accumulated 3.7× more deployed units since 2021 (now exceeding 19,500 units globally) and has grown its six-figure customer cohort 3.8× over the same period. The company also recently acquired Mapless AI in May 2026, adding remote human-in-the-loop control and onboard active safety — a strategic move to deepen its offering.
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