Formic raises $50M to bring general-purpose robots to US factories
Formic says its robots run in more than 100 US facilities with 99.6% uptime. A humanoid packing boxes in its launch video shows what it wants to do next.
Via TNW | Investors-funding
Formic, a Chicago company that rents robots to American factories, has raised $50M. Today its robots are built for specific tasks. The money will help it move to general-purpose machines that can take on more kinds of factory work. Axios first reported the round on Thursday, after chief executive Saman Farid spoke to Natalie Breymeyer. Formic announced it the same day.
The money combines a Series B led by Mercato Partners with debt financing from S2G Investments. Formic did not…
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