I’m honored and excited to join the board and continue backing Saman Farid and the incredible team at Formic with their most recent financing round! Formic is is rapidly becoming a critical platform in bolstering America’s manufacturing capacity and resilience, the future is so bright with this amazing company!
Exciting news! We’ve increased our Series A financing to $53.9M! On the heels of recently surpassing 100,000 fleet production hours and more than 1.2 billion products packed and stacked by our Robots-as-a-Service automation equipment, this additional round adds $27.4M in financing to continue scaling the easiest and most reliable way for US manufacturers to deploy automation and unlock greater production capacity across the supply chain. The new investments from Blackhorn Ventures, Mitsubishi HC Capital America, Inc., NEC and Translink Orchestrating Future Fund, Alumni Ventures, FJ Labs, and additional investments from Lux Capital, Initialized Capital, and Lorimer Ventures allow us to double down on our strategy to bring more Pay-for-Productivity automation to US manufacturers by: - Expanding our fleet of standardized automation solutions - Increasing our network of support and service people across the U.S. - Enhancing our equipment-agnostic software offering that includes AI-based motion planning, predictive maintenance, system design suite, and more intuitive customer interfaces and dashboards A huge thank you to everyone who has been a part of this journey. This milestone is a testament to the dedication, innovation, and hard work of our incredible team, as well as the trust and support of our customers and investors. Stay tuned for more updates and announcements as we embark on this next phase of our adventure! #SeriesA #Funding #Innovation #Tech #Growth #Automation #Robotics #Formic https://lnkd.in/d5pShmRV
They're lucky to have you on board my friend -- congrats!
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Huge! Good luck in this next stage of growth Stephan Cizmar and Formic team.
Very cool company, congrats!
Congrats Stephan Cizmar!!
Congrats Stephan Cizmar!!!
Great company. Congrats Stephan Cizmar
I help manufacturing businesses grow their customer base with powerful digital marketing strategies.
2wCongrats on the big win! 🚀 Keep pushing boundaries and making waves in the industry! 🌟