# Formic

> Factory robotics delivered through monthly subscriptions covering equipment, deployment, software, maintenance and support.

## Why it is interesting

Manufacturers can adopt automation without funding an equipment purchase or building a maintenance team. Formic assumes equipment-financing and service obligations, making installation payback, maintenance expense and financing cost central to its economics. The October 2026 financing supports expansion toward broader robotic capabilities.

## Profile

- **Latest funding:** Series B equity — Undisclosed (October 22, 2026)
- **Latest known valuation:** More than $100M; pre/post-money basis not specified (January 18, 2022)
- **Total disclosed equity funding:** $54M
- **Stage:** series-b
- **Status:** private
- **Industries:** robotics, ai-ml, hardware-semiconductors
- **Coverage:** full
- **Last updated:** 2026-10-23
- **Latest funding investors:** Mercato Partners, Light Ray Ventures, Lightscape Partners, Citi

## Key facts

- October 22, 2026: announced $50M in combined Series B equity and debt financing; the company release did not disclose the allocation.
- Mercato Partners led the equity component; S2G Investments provided debt.
- The company reports robots operating in more than 100 U.S. facilities; this is company-disclosed scale, not independently audited performance.
- Historical Series A funding totaled $53.9M after the June 2024 additional financing. Debt and the unallocated October 2026 package are excluded from the individually quantified equity rounds.

## Funding history

- Series B equity · Undisclosed · October 22, 2026
  Source: https://www.businesswire.com/news/home/20261022651853/en/
- Series A additional financing · $27.4M · June 25, 2024
  Source: https://formic.co/resources/articles/the-next-chapter
- Series A · $26.5M · January 18, 2022
  Source: https://formic.co/resources/articles/formics-series-a-raise

## Investors in our directory

- https://venturecapitaltracker.com/fund/mercato-partners
- https://venturecapitaltracker.com/fund/lux-capital

## Related articles

- https://venturecapitaltracker.com/formic-50m-series-b-debt-factory-robots

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)
**Last updated:** October 23, 2026

**Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.

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Source: https://venturecapitaltracker.com/startup/formic