Forterra, a U.S. developer of autonomous driving technology, completes $75 million in Series B financing

Forterra, a U.S. developer of autonomous driving technology, announced on September 10 that it had successfully raised $75 million in its Series B financing, which was oversubscribed by more than 2.5 times. The financing was led by Moore Strategic Ventures, XYZ Venture Capital and Hedosophia, and Standard Investments and existing investors such as Enlightenment Capital, Crescent Cove Advisors and Four More Capital also participated in the investment. The new funds will help Forterra accelerate and expand the deployment of its autonomous driving system (ADS) AutoDrive®. Forterra has partnered with Oshkosh Corp., a major manufacturer of military trucks, to develop autonomous vehicles for the U.S. Department of Defense.