Blackhorn Ventures led a $27.4m Series A funding round in Formic.

Blackhorn Ventures, an early-stage venture capital firm that invests in companies using breakthroughs in engineering and science, led a $27.4m Series A funding round in Formic, a provider of Robots-as-a-Service automation for US manufacturers, with participation from Mitsubishi HC Capital America, NEC, Translink Capital, Alumni Ventures, FJ Labs, Lux Capital, Initialized Capital and Lorimer Ventures. “Manufacturers continue to struggle with labor challenges, yet robotic solutions that can automate these difficult-to-fill jobs are traditionally capital intensive and even intimidating for those without a specialist on hand to manage the project long term. With this additional financing, we can take on the heavy lifting for even more manufacturers, handling financing, deployment, management and support throughout the entire lifecycle. It’s all about simplicity and standardization that enables better productivity outcomes for customers,” Saman Farid, Formic Co-Founder and CEO.