BMW i Ventures* today announced in Mountain View, CA an investment in Formant,** a robotics data and operations platform. BMW i Ventures led the $21 million round, with participation from new investors Intel Capital, GS Futures, and previous investors, including SignalFire, Hillsven, Goodyear Ventures, Pelion Ventures, Holman, Ericsson, PICUS Capital, and Thursday Ventures. Formant’s platform is claimed to deliver the data backbone that powers large-scale robotic fleets. (AutoInformed: Autonomous Forklift Startup Backed By BMW i Ventures)
“Autonomous robotic systems have broken free from R&D departments and are now being deployed at scale to drive business outcomes and resilient operations,” said Kasper Sage, Managing Partner at BMW i Ventures. “Their proliferation across mission-critical functions as well as support tasks for humans in various industries underscores the urgent need for seamless data management and orchestration across robotic endpoints. Formant is the operating system underpinning the future of the automated enterprise.” Continue reading









No Surprise as UAW Strikes at Ford’s Kentucky Truck Plant
In an unannounced move, 8700 UAW members walked off the job today at 6:30 pm ET, shutting down Ford Motor’s (NYSE: F) Kentucky Truck Plant in Louisville. The strike was called by UAW President Shawn Fain and Vice President Chuck Browning after Ford refused to make further movement in bargaining. Previous strike expansions occurred at a deadline set in advance by the union. The move comes one day before the four-week mark since contracts expired at Ford, General Motors, and Stellantis. Local 862 members at Kentucky Truck make Ford Super Duty pickups as well as the Ford Expedition and the Lincoln Navigator SUVs. President Fain will host a Facebook Live at 10 am on, yes, Friday the 13th of October to provide bargaining updates and take further action if needed.
“We have been crystal clear, and we have waited long enough, but Ford has not gotten the message,” said UAW President Shawn Fain. “It’s time for a fair contract at Ford and the rest of the Big Three. If they can’t understand that after four weeks, the 8700 workers shutting down this extremely profitable plant will help them understand it.” Continue reading →