Skip to content
Latest briefingsTopicsCompaniesGlossaryAbout
Tag · 2 articles

#United States

Industrial Robots

Formic raises $50 million, including $10 million in asset-backed financing, to take its robots-as-a-service model into general-purpose robots

Chicago-based Formic said on Oct. 22 it raised $50 million in growth capital, a $40 million Series B plus $10 million in asset-backed financing according to CEO Saman Farid's account to Axios. The company said Mercato Partners led the equity round, and it runs hundreds of robots in more than 100 U.S. facilities for a monthly fee while planning to expand into general-purpose robotics.

1 min readSources verified
Funding & Companies

Kevin Weil's Warp Sciences raises $215 million to build robotic chemistry labs in the US

Former OpenAI product chief Kevin Weil launched Warp Sciences on Oct. 22 with a $215 million Series A led by Lightspeed Venture Partners; TechCrunch, citing Weil, said the round values Warp at $865 million. Warp will make and test molecules for drug developers in the United States, starting with human chemists and automating their work over time.

1 min readSources verified