Formic Technologies Inc. News

Mitsubishi Electric Corporation has announced that its ME Innovation Fund has invested in Formic Technologies Inc. (Formic), a U.S.-based startup company that designs, develops, and maintains industrial robots, offered through a subscription-based sales model. This is the eighth investment that the fund has made to date. Rise in demand for industrial robots In the manufacturing and logistics sectors, efforts to automate processes in response to labor shortages are rapidly advancing, leading t...