Who Mercato Partners is
Mercato has four funds and $1.2 billion in assets under management, with a $400 million active fund. It says it invests in underserved and underfunded geographies.1
Deals this month
| Company | Round | Amount | Role | Announced |
|---|---|---|---|---|
| Formic | Series B and debt | $50M | Series B lead | October 22, 20262 |
Robotics bet this month
Mercato led the Series B part of Formic's $50 million round, which also included debt from S2G Investments. Formic did not say how the total splits between equity and debt.2
Managing director Ryan Sanders joins Formic's board. He said the bottleneck in robotics is moving from the lab to deploying, servicing, and financing robots in real plants. Formic reports 99.6% uptime and 97% renewals, figures TNW has not verified.2