# Formation Data Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/formation-data-systems

- Industry: Software
- Headquarters: Fremont, US
- Website: www.formationds.com
- Total disclosed funding: $24M
- Latest round: Series A (Sep 17, 2014)
- Investors on record: 5

## About

Formation Data Systems Inc. specializes in innovative technology solutions, particularly focusing on enhancing community engagement in environmental preservation and providing sharia-compliant financial services for investment management.Formation Data Systems Inc. was founded in 2012 in Fremont, US, and focuses on providing technology solutions that promote environmental sustainability and ethical investment opportunities. The company has engaged in 2 deals, with its most recent deal occurring on June 29, 2016. Formation Data Systems Inc. raised USD 6.000 mn in a Series B funding round, which brings the total amount raised to USD 6.000 mn and values the company at USD 68.812 mn post-money.Formation Data Systems Inc. primarily focuses on offering innovative technology and environmental solutions. Their core offerings include digital platforms for enhancing environmental engagement and financial services adhering to Islamic principles, particularly through their flagship service, Nabitu.id, which facilitates halal investment opportunities. The company also collaborates with electric vehicle manufacturers to promote sustainable transportation, targeting major urban centers in Indonesia.Formation Data Systems Inc. generates revenue through various transaction models, including B2B partnerships and direct consumer sales. Their financial services operate on a subscription basis via Nabitu.id, enabling users to access customized investment plans for a monthly fee. Additionally, the company benefits from revenue-sharing arrangements with retailers and wholesalers in the automotive sector, along with potential sponsorships and collaborations for their environmental initiatives, ensuring accessibility while maintaining profitability.Formation Data Systems Inc. aims to leverage its recent Series B funding of USD 6.000 mn, raised in June 2016, to support its growth strategy. The company plans to expand its product offerings, including new digital platforms tailored for environmental initiatives, and intends to explore additional markets across Southeast Asia by 2025. The funding will be utilized to enhance product development and facilitate entry into these new geographic regions.

## Funding rounds

- Series A, Sep 17, 2014, $24M — Mayfield Fund, Pelion Venture Partners, Dell Ventures, Third Point, Square 1 Bank

## Investors

- Mayfield Fund (https://capitalatlas.ai/funds/mayfield-fund) — Series A
- Pelion Venture Partners (https://capitalatlas.ai/funds/pelion-venture-partners) — Series A
- Dell Ventures (https://capitalatlas.ai/funds/dell-ventures) — Series A
- Third Point (https://capitalatlas.ai/funds/third-point) — Series A
- Square 1 Bank — Series A