Formant, a robotics company founded by Jeff Linnell, co-founder of Bot & Dolly, has announced a successful $21 million funding round led by BMW i Ventures. The funding will be used to accelerate the company’s go-to-market strategy and expand its reach in various sectors.
Formant aims to revolutionize the robotics industry by focusing on software and data insights rather than hardware. Linnell, reflecting on his experience in the industry, realized that software is the real challenge, not hardware. He also recognized that there are numerous applications that are almost possible and can be greatly enhanced by human intervention.
Formant is a data collection and assessment platform that leverages the information collected by on-board sensors on robots. The platform enables humans to manage field-deployed assets at scale. By bringing humans into the equation, Formant aims to bridge the gap between the capabilities of robots and the tasks that require human intervention. The platform is hardware agnostic and supports various types of robots, including flying robots, underwater robots, mowing robots, delivery robots, quadrupeds, and bipeds.
Formant has already made significant strides in the market, particularly in underserved sectors like agriculture. Clients include John Deere-owned Blue River, security robotics firm Knightscope, and BP. The company’s success lies in its ability to provide infrastructure and a data platform that customers can easily adopt, rather than having to build it themselves.
The new funding will enable Formant to further enhance its platform and expand its offerings to more industries. The company’s vision is to revolutionize the robotics industry by empowering humans with powerful software and data insights, enabling them to manage and optimize robotic assets at scale.
Sources: TechCrunch
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2023-10-11 13:35:00
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