Lux Capital

Consultancy : Company : Venture Capital

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Menlo Park, California, United States

Investing in people inventing the future. Lux Capital invests in emerging science and technology ventures at the outermost edges of what is possible. We partner with iconoclastic inventors challenging the status quo and the laws of nature to bring their futuristic ideas to life.

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Formic Technologies Raises $26.5 Million Series A Led By Lux Capital

Date:

Topics: funding event

Organizations: Formic Technologies, Lux Capital

Formic Technologies, a provider of turnkey robotic solutions to American manufacturers, has raised $26.5 million in a Series A financing led by Lux Capital with participation from Initialized Capital, Correlation Ventures, Lorimer Ventures, One Planet VC and other strategic investors. In addition, Formic has secured access to more than $100 million of debt capital to fund equipment purchases. This financing will enable the company, now valued at more than $100 million, to expand its operations and support the rapid deployment of its Robots-as-a-Service offering for U.S. manufacturers.

Read more at Business Wire