Tractian raises $130 million, Formic raises $50 million for factory robots, and more - Industrial AI Weekly #79

In this edition, covering 21 to 29 October:

• Tractian raised $130 million in a Series D at a $1.4 billion valuation for its machine health platform, used in more than 2,000 critical facilities.
• Formic raised $50 million to expand its robotics platform in US manufacturing.
• Bedrock Robotics raised $600 million at a $4.1 billion valuation for self driving construction equipment; its autonomous excavators began paid work in August.

Funding

Physical AI company Tractian raised $130 million in a Series D led by Sapphire Ventures and co-led by M&G's Catalyst, at a $1.4 billion valuation, for its machine health platform. Formic raised $50 million in a Series B led by Mercato Partners, plus debt financing, to grow its robotics platform from task specific automation in US factories. Tractian · Formic

Bedrock Robotics, which builds self driving software for heavy construction equipment, raised $600 million at a $4.1 billion valuation, co led by CapitalG and Emergence Capital. Its autonomous excavators began paid work on commercial job sites in August. Bedrock Robotics

UK startup Circuit Mind raised $25 million and launched an engine that uses AI agents and physics based models to check circuit schematics for errors, and will open a US headquarters. Circuit Mind

Paris based Bleu Robotics raised a €5 million pre seed round led by Contrarian Ventures and OVNI Capital for industrial humanoids it says can learn a task in 20 minutes and work on a factory line within an hour. Maxinsights raised a $30 million seed round led by Peak XV for robot training data drawn from more than 2 million hours of footage from 5,000 contractors. Bleu Robotics · Maxinsights

Policy

Singapore will provide more than S$45 million over three years for Enterprise Singapore's Catalytic AI Solutions initiative, which helps manufacturers, especially small and medium sized ones, access and co fund ready to deploy AI tools. Singapore

On the shop floor

OneTrack introduced Iris-1, a world model for warehouses and factories that analyses video, answers plain language searches and helps its agent investigate root causes. L2L launched an AI shop floor execution platform with voice driven dispatching, and Vertice extended its procurement platform to invoices and payments. OneTrack · L2L · Vertice

AGIBOT introduced Worken, a framework that measures robots' productive work by active robots, autonomous working hours and task output, and launched the G2 Max industrial robot, pointing to deployments in manufacturing and logistics. AGIBOT

Körber is taking a stake in NAiSE, whose software coordinates automated guided vehicles, mobile robots and manually driven trucks in warehouses and plants. Human Friendly Robotics signed a three year, $3.55 million contract to deploy its Tyler tiling robots with Foley Tile in Arizona. Körber and NAiSE · Human Friendly Robotics

Results

Wesco International reported record third quarter net sales of $7.2 billion, up 17%, with data center sales up about 55% to $1.8 billion and backlog up about 80%, and raised its 2026 outlook. Wesco