Natalie Breymeyer / Axios : Chicago-based Formic, which provides robots-as-a-service automation to manufacturers, raised $50M, including a $40M Series B and $10M in asset-backed financing — Formic, a physical AI commercialization platform, raised $50 million in financing, CEO Saman Farid tells Axios exclusively.
Chicago-based Formic, which provides robots-as-a-service automation to manufacturers, raised $50M, including a $40M Series B and $10M in asset-backed financing (Natalie Breymeyer/Axios)
In short
Formic, a Chicago-based company specializing in robots-as-a-service automation for manufacturers, has secured $50 million in funding. The round includes a $40 million Series B and $10 million in asset-backed financing. Formic CEO Saman Farid revealed this news exclusively to Axios.
Key points
- Formic, a Chicago-based company specializing in robots-as-a-service automation for manufa…: Formic, a Chicago-based company specializing in robots-as-a-service automation for manufacturers, has secured $50 million in funding.
- The round includes a $40 million Series B and $10 million in asset-backed financing.: The round includes a $40 million Series B and $10 million in asset-backed financing.
- Formic CEO Saman Farid revealed this news exclusively to Axios.: Formic CEO Saman Farid revealed this news exclusively to Axios.