Formic Pulls In $50M Series B
2026-10-23
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CHICAGO, IL, Formic, a Chicago company that rents robots to American factories, has raised $50M Series B.
Formic, a Chicago company that rents robots to American factories, has raised $50M. 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 say how the $50M splits between the two. Light Ray Ventures, Lightscape Partners and Citi also invested. Lux Capital, Initialized Capital, Blackhorn Ventures and Lorimer Ventures put in more money too. Early investor Stephan Cizmar named them on LinkedIn.
The money combines a Series B led by Mercato Partners with debt financing from S2G Investments. Formic did not say how the $50M splits between the two. Light Ray Ventures, Lightscape Partners and Citi also invested. Lux Capital, Initialized Capital, Blackhorn Ventures and Lorimer Ventures put in more money too. Early investor Stephan Cizmar named them on LinkedIn.
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