Formic raises $50 million in a Series B round led by Mercato Partners to scale physical AI across American manufacturing.
PRIVATEOct 22, 2026
Amount Raised
$50 Million
Round Type
Series B
Chicagomachinery
Investors
Mercato Partners
Description
Formic has successfully raised $50 million in a Series B funding round. The investment, led by Mercato Partners, will be utilized to accelerate Formic's expansion into general-purpose robotics. This comes after the company has built a platform based on over 750,000 hours of live production. The funding marks a significant step forward for Formic in advancing AI technologies in the manufacturing sector.
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Company Information
Company
Formic Technologies
Location
4212 W Cortez St
Chicago, Illinois, United States
About
Formic is a U.S.-based robotics and automation company founded in 2020. It focuses on making automation accessible for small-to-medium sized manufacturers across America, specializing in end-of-line automation solutions like case packing and palletizing. Formic helps manufacturers enhance capacity, consistency, and reliability while reducing costs and downtime.
The company operates on a Robotics-as-a-Service (RaaS) model, allowing manufacturers to implement robotic automation without upfront costs. Customers pay a fixed monthly rate based on productivity, with Formic ensuring uptime and performance. This model addresses challenges such as high capital expenditure and labor shortages. Formic offers a full-service automation package, including custom-engineered robotic systems, 24/7 bilingual technical support, and proprietary software tools like Formic Production Intelligence for real-time production insights.
Formic's technology is utilized across various manufacturing sectors, enabling efficient and safe automation of packing and palletizing tasks. The company's customer-centric approach emphasizes shared risk and reward, providing ongoing support and guaranteed performance to help manufacturers thrive.
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Chicagomachinery