Trinity Capital (a leading provider of diversified financial solutions to growth-stage companies) announced the commitment of $20 million in equipment financing to Formlogic (a provider of autonomous precision manufacturing services intended for space companies).
Formlogic is transforming how precision parts are sourced and manufactured by separating engineering from physical labor. With a combination of remote AI-based planning and autonomous production, the company has created software that performs the simulations needed to produce effectively – which replaces the guess-and-check method usually done by a skilled worker.
Formlogic has factories based in Pittsburgh spanning over 50,000 square feet. This growth capital will enable the company to acquire new CNC machines and continue to scale operations.
KEY QUOTES:
“The manufacturing sector is home to some of the most innovative ideas in the medical, semiconductor, and aerospace industries and we’re excited to add Formlogic to our portfolio. We look forward to supporting the company’s growth as it continues to scale.”
– Ryan Little, Senior Managing Director, Equipment Financing at Trinity
“Formlogic is on a mission to help modernize the industrial supply chain and ensure tens of billions of dollars in skilled manufacturing remains in the US. We appreciate all of Trinity’s support, and we’re excited to have them as a partner as we onboard our next factories.”
– Paul Sutter, CEO and Founder at Formlogic
