Diligence memo · auto-generated · as of July 2, 2026
Formation Metals Inc
Formation Metals Inc looks fair against its niche peers and is dormant on financing cadence.
Businessfiled
Formation Metals Inc operates in Other, based in VANCOUVER.
Sector still resolves to a broad 'Other' bucket, so operating comparables below are weaker than for a tightly-classified peer.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Formation Metals Inc has raised $16M in disclosed capital across 3 recorded rounds, aggregated from public filings. Its latest round is modeled as Series A (a $4.0M–$15M round).
Largest single filing: $9.2M on 2011-03-10.
Most recent recorded round closed around 2012-10-16.
Valuation (modeled)modeled
Provath models Formation Metals Inc at approximately $76M (range $6.8M–$411M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 0.83× the median modeled value of Series A Other companies in 2010–2012 (632 peers) — value vs value, same stage and era. Within the normal band (83% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 15 months.
Last raise 13.7 yr ago; this sector typically re-raises about every 11 months.
Silent for over 3× the sector's normal cadence.
The last round was 1.8× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 83% of Other peers (25015 compared).
Modeled value ranks above 79% of those peers.
Closest niche peers: Worldview Entertainment Capital Llc, Applied Merchant Systems West Coast, Inc., SWMF Life Science Venture Fund, Limited Partnership, PrimaLoft Holding Company, LLC, Graphics Properties Holdings, Inc..
Peoplefiled
18 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
Broad sector classification weakens peer comparison.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.