Formic Raises USD 50 Mn to Scale Physical AI
Formic raises USD 50 million led by Mercato Partners to scale Robots-as-a-Service and expand into general-purpose robotics.
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Formic, a robotics commercialisation platform, has raised USD 50 million in growth capital. The financing includes a Series B led by Mercato Partners, with participation from Light Ray Ventures, Lightscape Partners, Citi and other investors, plus debt financing from S2G Investments. Mercato’s Ryan Sanders joins the board.
The funds will help Formic move into general-purpose robotics and new applications such as metal fabrication, and deepen work in aerospace, space, defence, medical and energy. It is working with Physical Intelligence, combining its robotic foundation models with Formic’s production data. Robots are assembled and tested in Bolingbrook, Illinois, and new capabilities are developed in Oakland, California.
“We’ve spent five years building the commercialization platform that bridges that gap. Now we’re extending that platform from task-specific automation to general-purpose robotics,” said Saman Farid, Founder and CEO, Formic.
“As robots get smarter, the bottleneck moves from the lab to the loading dock: deploying, servicing and financing robots in real plants,” said Ryan Sanders, Managing Director, Mercato Partners.
Formic, a robotics commercialisation platform, has raised USD 50 million in growth capital. The financing includes a Series B led by Mercato Partners, with participation from Light Ray Ventures, Lightscape Partners, Citi and other investors, plus debt financing from S2G Investments. Mercato’s Ryan Sanders joins the board.
The funds will help Formic move into general-purpose robotics and new applications such as metal fabrication, and deepen work in aerospace, space, defence, medical and energy. It is working with Physical Intelligence, combining its robotic foundation models with Formic’s production data. Robots are assembled and tested in Bolingbrook, Illinois, and new capabilities are developed in Oakland, California.
“We’ve spent five years building the commercialization platform that bridges that gap. Now we’re extending that platform from task-specific automation to general-purpose robotics,” said Saman Farid, Founder and CEO, Formic.
“As robots get smarter, the bottleneck moves from the lab to the loading dock: deploying, servicing and financing robots in real plants,” said Ryan Sanders, Managing Director, Mercato Partners.
