Formic raises $50M to put general-purpose robots on factory floors
Formic's Series B, led by Mercato Partners, backs a shift from task-specific automation to broader industrial applications.
By Ryan Merket · Published
Primary source: Business Wire
Why it matters
Formic is using its reported factory deployments as the foundation for broader robotics. The $50 million package funds that move.
Formic raised $50 million on October 22nd to expand from task-specific factory automation into general-purpose robotics. The Series B was led by Mercato Partners, with Light Ray Ventures, Lightscape Partners, Citi and other investors participating; S2G Investments provided debt financing, according to Formic's announcement.…
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