Formant, a San Francisco, CA-based robotics data and operations platform, secured $21 million in funding.
The round was led by BMW i Ventures, with participation from new investors Intel Capital and GS Futures, as well as previous investors.
Founded in 2011, BMW i Ventures is the corporate venture capital arm of BMW Group based in Mountain View, California. The firm invests in purpose-driven entrepreneurs building high-performance companies while providing access to resources and an ecosystem of specialists across hardware, software, and sustainability.
Formant Use of Funds
The company plans to use the funds to expand its hiring, introduce new products and features, and accelerate growth in 2023 and beyond, catering to the increasing adoption of robots in large organizations.
Formant is a data and operations platform that helps robotics companies manage and scale their fleets. Formant delivers a secure data platform to operate fleets of robots at any scale through a single pane of glass. Formant is on a mission to underpin the intersection of robotics and AI for enterprises and robotics companies. To help teams get the most out of every robot, Formant also supports easy integrations with many of the industry’s leading tools such as ROS2, NVIDIA’s Isaac simulator, and Clearpath’s Outdoor Navigation.
Company: Formant, Inc.
Funding Month: October 2023
Lead Investors: BMW i Ventures
Additional Investors: Intel Capital and GS Futures
Company Website: https://formant.io/
Software Category: Robotics Data and Operations Platform