TL;DR:
- Bot & Dolly, a robotics company, was acquired by Google a decade ago but didn’t meet expectations.
- Jeff Linnell, co-founder, founded Formant, realizing software was the key challenge.
- Formant focuses on data collection and assessment, helping manage field-deployed assets.
- The company secures $21 million in funding led by BMW i Ventures for expansion.
- Formant has diverse clients, including Blue River, Knightscope, and BP, and operates across various robotics domains.
- They embrace hardware agnosticism and provide a software solution adaptable to different robots.
Main AI News:
A decade ago, Bot & Dolly, a prominent player in the robotics realm, found itself among the select few companies acquired by Google during its robotics acquisition spree. The San Francisco-based company, renowned for its groundbreaking special effects work on cinematic marvels like “Gravity,” was ushered into a new era with grand aspirations to reshape the industry. However, as we delve into the intricate details, it’s apparent that fate had different plans.
After a stint leading Google’s robotics endeavors and later transitioning to Alphabet X, Jeff Linnell, co-founder of Bot & Dolly, embarked on a new venture known as Formant. Reflecting on his tenure at the helm, Linnell shared with TechCrunch a couple of key revelations. Firstly, he emphasized that hardware wasn’t the crux of the issue; it was the software. Secondly, he noted the abundance of opportunities where tasks were either 95% complete or had the potential to reach that point, with the prospect of human intervention.
Clearly, Linnell wasn’t alone in his epiphanies. Google’s trajectory in the realm of robotics has witnessed a significant shift towards software-centric approaches. Much of the Everyday Robotics team integrated seamlessly into the Google DeepMind project, while Alphabet X gave rise to Intrinsic.
In contrast to the burgeoning field of no-code robotic programming and deployment, exemplified by companies like Intrinsic and Viam, Formant operates as a data aggregation and assessment platform designed to handle the complex volumes of information garnered by on-board sensors.
“In recent years, there’s been a realization that infrastructure and a data platform can be procured. It’s not a DIY endeavor, nor is it the forte of many. That’s precisely where we come in,” Linnell elucidated. “Our mission is to empower humans in the realm of managing field-deployed assets, ideally at scale. We have clients on our platform with tens of thousands of robots, a scenario that was scarcely conceivable just a few years ago.“
Today, Formant is making waves with the announcement of a $21 million funding round, spearheaded by BMW i Ventures, with participation from Intel Capital, GS Futures, SignalFire, Hillsven, Pelion Ventures, Holman, Ericsson, Goodyear Ventures, PICUS Capital, and Thursday Ventures. This funding infusion follows an impressive $18 million Series A round disclosed in January.
The latest funding injection is poised to expedite Formant’s go-to-market strategy, a journey that has already yielded notable successes. Initially, the company set its sights on underserved sectors such as agriculture, prioritizing them over more established domains like warehousing and manufacturing (although those remain on the horizon). Formant’s client roster boasts industry leaders, including Blue River (a John Deere subsidiary), security robotics firm Knightscope, and energy giant BP.
Linnell emphasizes, “We are radically hardware agnostic. We’ve ventured into the realm of flying robots, underwater robots, mowing robots, delivery robots, quadrupeds, bipeds – the spectrum is extensive. To us, they all share a common thread. Somewhere along the line, there’s a Linux-based computer receptive to our software. There hasn’t been a robot we couldn’t collaborate with.”
Conclusion:
Formant’s strategic pivot towards software-driven data management in robotics, supported by substantial funding and a diverse client portfolio, signifies a promising future for the company. This shift also reflects a broader trend in the robotics market, emphasizing the critical role of data and software solutions in unlocking the full potential of robotic assets across various industries.
