Formic has raised $50 Million in New Funding

According to filings with the U.S. Securities and Exchange Commission, Formic has raised $50 Million in new Series B funding. The federal securities law requires the notice to be filed by companies that have sold securities without registration under the Securities Act of 1933 in an offering made under Rule 504 or 506 of Regulation D or Section 4(a)(5) of the Securities Act. A company must file this notice within 15 days after the first sale of securities in the offering. For this purpose, the date of first sale is the date on which the first investor is irrevocably contractually committed to invest. Each issuer of securities that sells its securities in reliance on an exemption provided in Regulation D or Section 4(a)(5) of the Securities Act of 1933 must file this notice containing the information requested with the U.S. Securities and Exchange Commission (SEC) and with the state(s) requiring it. If more than one issuer has sold its securities in the same transaction, all issuers should be identified in this filing with the SEC.

Investors in the company’s current round of funding include: Mercato Partners, Light Ray Ventures, Lightscape Partners, Citi, S2G Investments

About Formic
Formic provides full-service robotic automation for U.S. manufacturers, with solutions for consumer packaged goods and metal fabrication companies. Its systems support tasks including palletizing, case packing, machine tending, pallet wrapping, material movement, and other end-of-line operations. Formic uses vision systems, artificial intelligence, learned policies, and continuous software updates to improve the performance of its production-floor robots. The companys Full Service model allows manufacturers to adopt automation with no upfront capital investment through a fixed monthly operating expense. Formic reports measurable customer outcomes including a 20% reduction in operating expenses, 24/7 support, an average 12-week lead time, and 99.30% uptime over the last 12 months. Its stated goal is to make robotic automation accessible to every U.S. manufacturer while helping reduce workplace injuries, address difficult-to-fill positions, and improve production consistency.

To learn more, visit https://formic.co/
Linkedin: https://www.linkedin.com/company/formic-technologies/

Contact:
Saman Farid, CEO
https://www.linkedin.com/in/samanfarid/

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