From RuntimeWire · RuntimeWire · · 40s
Formic Raises $50M for Factory Robots
Formic secures $50 million to deploy general-purpose robots across factory floors.
In brief
Formic secures $50 million to deploy general-purpose robots across factory floors. Formic raised $50 million in Series B funding to expand from task-specific to general-purpose robotics in factories. Originally reported by RuntimeWire.
Formic Raises $50M
Formic raised $50 million on October 22nd to expand from task-specific factory automation into general-purpose robotics.
Series B Led by Mercato Partners
The Series B was led by Mercato Partners, with Light Ray Ventures, Lightscape Partners, Citi and other investors participating; S2G Investments provided debt financing.
Funding for Factory Deployments
The $50 million package funds Formic's move toward broader robotics applications in factory settings.
What to remember
Formic raised $50 million in Series B funding to expand from task-specific to general-purpose robotics in factories.
