Mr. Sunny Ray reports

HUMANOID GLOBAL HIGHLIGHTS PORTFOLIO COMPANY FORMIC'S US$50 MILLION RAISE, LED BY MERCATO PARTNERS, TO ADVANCE PHYSICAL AI ACROSS AMERICAN MANUFACTURING

Humanoid Global Holdings Corp.'s portfolio company Formic Technologies Inc., in which Humanoid Global holds a minority equity interest, has raised $50-million (U.S.) in growth capital. According to Formic, the financing comprises a Series B equity round led by Mercato Partners, with participation from Light Ray Ventures, Lightscape Partners, Citi, and other new and existing investors, together with debt financing from S2G Investments.

Formic, which describes itself as the commercialization platform for physical artificial intelligence, delivers robotic automation to U.S. manufacturers through a robots-as-a-service model that bundles equipment, deployment software, field operations, maintenance, financing and performance monitoring into a single recurring monthly payment, with no upfront capital required from the customer. According to Formic, proceeds from the financing will be used to accelerate its expansion from task-specific automation into general-purpose robotics, strengthen its AI and robotics capabilities, and expand into new applications such as metal fabrication, while deepening its presence in aerospace, space, defence, medical, energy and the broader U.S. industrial base.

According to Formic, it has operated robots in live production for more than five years and now runs hundreds of robots across more than 100 facilities in over 30 states, having accumulated more than 750,000 hours of live production. Formic reports fleet uptime of 99.6 per cent and a customer renewal rate of 97 per cent, with applications spanning palletizing, case packing, machine tending, kitting and assisting work across food and beverage, consumer packaged goods, chemicals, aerospace, defence, and packaging. Formic also reports that it now deploys robots into production approximately three times faster than it did a year ago, as data from each deployment inform subsequent installations.

Formic has stated that, as part of its move into general-purpose robotics, it is working with Physical Intelligence to adapt Physical Intelligence's robotic foundation models for manufacturing applications using Formic's production data and operational expertise. Formic assembles and tests its robots at its facility in Bolingbrook, Ill., and develops new capabilities at its research and development centre in Oakland, Calif. In connection with the financing, Ryan Sanders, managing director at Mercato, has joined Formic's board of directors.

Commenting on the financing, Saman Farid, founder and chief executive officer of Formic, noted that the gap between building a capable robot and making it productive on a real factory floor remains the industry's central challenge, and that Formic is now extending its platform from task-specific automation to general-purpose robotics. He added that the model allows manufacturers to expand domestic output without committing significant capital to automation.

"Formic's Series B is an encouraging validation of our investment thesis and of the value we believe exists in the deployment layer of physical AI," said Sunny Ray, chief executive officer of Humanoid Global. "A syndicate that includes Mercato Partners and Citi is backing a business with a meaningful operating record: hundreds of robots in live production, 99.6-per-cent uptime and a 97-per-cent renewal rate. As Formic extends its platform into general-purpose and humanoid robotics, we believe it has the potential to become an important channel through which embodied AI reaches American factory floors, and we are pleased that this progress is reflected in the value of our position."

Humanoid Global previously announced a strategic investment in Formic as part of its mandate to support platforms that accelerate the adoption of autonomous robotics in manufacturing. The company continues to view Formic as a core holding within its portfolio and as consistent with its long-term thesis that commercialization and deployment infrastructure will be important to supporting widescale adoption of humanoid robotics, service robotics and orchestration technologies across key industrial markets.

About Humanoid Global Holdings Corp.

Humanoid Global is a publicly traded investment issuer building a portfolio of pioneering companies in the growing humanoid robotics and embodied artificial intelligence sector, investing in and accelerating their growth. It serves as a global investment platform providing liquidity and access to an actively managed portfolio spanning the value chain of this emerging ecosystem, including advanced software, hardware and enabling technologies. Led by a team with a proven record of scaling transformative technologies globally, the company takes a long-term, partnership-oriented approach. It provides capital and strategic consultation on go-to-market strategies, regulatory pathways and transaction advisory while facilitating introductions to customers, suppliers and strategic partners.

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