FORT Robotics, a leading safety platform for physical AI, has announced a definitive agreement to merge with Newbury Street II Acquisition Corp. This transaction will take FORT public, with the combined entity to be listed on Nasdaq under the ticker symbol "FROB". The deal values the new company, FORT Robotics Holdings, Inc., at a pro-forma enterprise value of $556.6 million.
Establishing a Foundation of Trust for Physical AI
FORT Robotics provides a foundational safety infrastructure, known as The Trust Layer, for the rapidly expanding world of physical AI. This platform enables autonomous machines from various manufacturers to operate safely alongside humans in shared environments. With over 600 customers globally, including industry leaders like Agility Robotics and Google DeepMind, the company's technology is becoming a critical component across numerous sectors.
Founded in 2018 by CEO Samuel Reeves, the company's mission is to ensure robots cause no harm, a vision born from previous work in landmine-clearing robotics. This commitment is bolstered by a strategic collaboration with NVIDIA and the recent acquisition of Mapless AI, which added remote human-in-the-loop control to its platform. The company's technology is protected by 25 patents and certified to high safety standards.
Strategic Rationale and Market Opportunity
The decision to go public comes at a critical inflection point for the robotics industry, where safety is paramount for widespread adoption. Samuel Reeves, FORT's CEO, emphasized that addressing the new risk profile of autonomous systems is essential for scaling beyond pilot programs. This transaction is designed to establish a shared framework for trust that can be relied upon by manufacturers, users, and regulators alike.
Thomas Bushey, CEO of Newbury Street II, highlighted FORT's role in addressing a complex infrastructure challenge and accelerating the robotics revolution. The capital raised will fuel accelerated product innovation, expand global commercial reach, and support strategic partnerships and acquisitions. This move positions FORT to extend its leadership and create long-term value as the market for physical AI matures.
Financial Highlights and Transaction Details
The company has demonstrated strong commercial momentum, with revenue growing 62% year-over-year in 2025 and resilient gross margins of 66%. This growth is supported by a diversified customer base, with no single client accounting for more than 9% of 2025 revenue. The platform's adoption is accelerating, now deployed across more than 19,500 units globally, reflecting deep and durable customer relationships.
The business combination is expected to deliver approximately $201 million in gross proceeds, assuming no redemptions by Newbury Street II's public shareholders. This includes over $31 million in committed PIPE and Non-Redemption Agreement investments from notable backers like Tiger Global and Mark Cuban. Existing FORT shareholders will roll 100% of their equity, retaining a majority ownership stake in the combined company upon closing.
This merger marks a significant milestone, creating the first publicly traded company dedicated to providing a universal safety layer for physical AI. By entering the public markets, FORT Robotics is poised to solidify its leadership position and accelerate the safe, scalable deployment of autonomous systems worldwide. The transaction equips the company with the resources needed to meet the growing demand for trust and safety in an increasingly automated world.