Global Brain has invested in Formic Technologies, Inc. (Formic), a U.S.-based startup company that designs, develops, and maintains industrial robots, through its ME Innovation Fund L.P. (ME Innovation Fund). In the manufacturing and logistics sectors, efforts to automate processes in response to labor shortages are rapidly advancing, leading to increased demand for industrial robots. However, the high up-front costs associated with deploying robots and the challenge of finding and training skilled workers have become major obstacles for many companies. Formic addresses these issues by offering a comprehensive range of services that include the deployment, installation and maintenance of automation systems using industrial robots for tasks such as palletizing^\* and packaging. Utilizing proprietary software, Formic provides optimized solutions tailored to the individual needs of clients, primarily small and medium-sized businesses. By combining these solutions with a unique financing model and subscription-based service, Formic significantly reduces the burden on customers related to the deployment and maintenance of industrial robots, thereby contributing to the acceleration of automation in the manufacturing sector to address challenges such as labor shortages.
^\* Refers to the stacking of products or materials on pallets for transport or storage. Global Brain has decided to invest in Formic, highly recognizing its advanced business model. Global Brain will continue leveraging its resources to support Formic in collaboration with Mitsubishi Electric.

About Formics

Location: Illinois, United States
CEO: Saman Farid
Founded: September 2020
URL: https://formic.co/

About ME Innovation Fund

Name: ME Innovation Fund L.P.
General Partner: Global Brain Corporation
Fund Size: JPY 5 billion

About Global Brain

Location: Tokyo, Japan
Representative: Yasuhiko Yurimoto
Founded: January 1998
URL: https://globalbrains.com

Global Brain has invested in Formic Technologies, Inc., a U.S.-based startup company that designs, develops, and maintains industrial robots