Formic’s Post

Economies thrive with automation, and Formic is accelerating state-of-the-art robotics & AI across our factories and warehouses:

🚀 Exciting News! #Toronto #AI pioneer Xaba just secured $2M in seed extension funding to revolutionize the #manufacturing world with their cutting-edge cognitive software for robotics and CNC automation! 🤖💡 Spearheaded by BDC Capital and supported by Hitachi Ventures and Hazelview Ventures, this investment is set to turbo-charge operations and ramp up innovation. Wave goodbye to constant supervision and hello to seamless precision with xCognition and xTrude. Gear up for a smarter, more efficient future in industrial automation! #TechInnovation #FutureOfWork #Industry4Point0 #VCInvestment Check out our breakthrough story! 💼🔗

Congrats to the newest member of the Blackhorn Ventures family - Formic, on the successful close of their $27.4 million Series A round. Formic is set to revolutionize manufacturing with their industrial Robots-as-a-Service (RaaS) platform. Led by serial entrepreneur and robotics expert Saman Farid, Formic is democratizing access to the latest robotic systems, offering a scalable, flexible solution that aligns with the diverse needs of manufacturers, while addressing the severe labor shortage in this critically important sector. We're proud to lead Formic's Series A round alongside co-investors Mitsubishi HC Capital America, Inc., NEC Corporation, Translink Capital, Alumni Ventures, FJ Labs, Lux Capital, Initialized Capital and Lorimer Ventures. Blackhorn shares Formic's conviction that a future where automation empowers manufacturing is a brighter one. See Formic's announcement here: https://lnkd.in/d5pShmRV #raas #robotics #automation #manufacturers https://lnkd.in/gCh2mKqA

🔋 Rockwell Automation has unveiled an exciting new #partnership with UK startup IONETIC aimed at revolutionizing the #EV #batteryindustry. The collaboration focuses on making #EVbatteries more affordable for small- to medium-sized #automakers worldwide. The high cost of developing EV batteries has been a significant barrier for many automakers, but IONETIC's innovative #technology is set to change the game, enabling a wider range of #brands to compete effectively in the market. 🚗 Learn more about this game-changing partnership: #RockwellAutomation #IONETIC #Innovation #DigitalTransformation

In this month's founder spotlight, we spoke with Formic CEO Saman Farid. Formic streamlines robot adoption in factories through software, financing, and expertise, aiming to enhance productivity in American manufacturing. Saman emphasizes the importance of thoroughly addressing challenges in conservative industries like manufacturing. He advises founders to comprehensively tackle complexities and cater to the unique needs of traditional businesses to drive widespread technology adoption and boost industry productivity. "A motto we have internally is 'you either solve 100% of a problem or 0% of the problem'—for manufacturers, that means if you want them to adopt, you really have to take ALL the work, and basically all of the risk off their plates.” Read more ⬇ https://lnkd.in/eSN8y9eK Learn more about Formic ⬇ https://formic.co/

In today's Expert Contributor, Miguel Gomez, Automation & Robotics Director of Consultoría G2H , explains how, addressing the needs of nearshoring and ensuring continued investment will require a workforce with new skills and training. #MexicoBusinessNews #MexicoBusiness #ExpertOpinion

Investing in new technologies and providing companies the seed money they need to get off the ground and bring their inventions to market is crucial for Pennsylvania to be a leader in innovation and technology. Learn more about the proposed $20 million in the 2024-25 #PABudget.

Check out this article about how HyImpulse is innovating with paraffin wax as a rocket fuel. #Innovation #spacetech https://lnkd.in/eZFJe5P7

Another important step