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Formic

At Formic, we want to increase the collective output of humanity by making automation deployments trivial and easy. Every factory should have access to unlimited 'labor' through robotics and automation rentals. We are building technology, financing, operations and services to make this vision possible. Formic is a fast-growing venture-backed startup focused on unlocking robotic automation in labor-starved industries such as food and beverage, advanced manufacturing, consumer packaged goods and other industrial settings. We combine financial innovation with a firm understanding of what robotics are capable of, to enable manufacturing customers to scale up their manufacturing capacity quickly and with minimal risk.

formic.co

Founded

2020

Employees

Between 10 - 50 employees

Raised

$31,900,000

Headquarters Location

Chicago, IL

Public

FALSE

Acquired

FALSE

Founders

Saman Farid
Saman Farid

Funding Rounds

$26,500,000

January 2022

$5,400,000

September 2021

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