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Trinity Capital Provides $20MM Equipment Financing to Formlogic

February 09, 2024, 05:00 AM
Filed Under: Manufacturing

Trinity Capital announced the commitment of $20 million in equipment financing to Formlogic, a provider of autonomous precision manufacturing services intended for space companies.

Formlogic is changing how precision parts are sourced and manufactured by separating engineering from physical labor. Through a combination of remote AI-based planning and autonomous production, the company has created software that performs the simulations needed to produce effectively, replacing the guess-and-check method usually done by a skilled worker.

"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," said Ryan Little, Senior Managing Director, Equipment Financing at Trinity. "We look forward to supporting the company's growth as it continues to scale."

Formlogic has factories located 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.

"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," said Paul Sutter, CEO and Founder at Formlogic. "We appreciate all of Trinity's support, and we're excited to have them as a partner as we onboard our next factories."

For more equipment finance and leasing industry news, visit Equipment Finance Advisor.

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