Formic provides Robots-as-a-Service (RaaS) automation to U.S. manufacturers. Companies pay a low hourly rate for equipment, 24/7 monitoring, 100% maintenance, and guaranteed performance rates (99%+ uptime) without the need for human and capital-intensive investments. By removing the financial and operational barriers to automation adoption, Formic allows manufacturers to increase productivity, safety, and quality faster than ever before, while achieving positive ROI on day one.
Market
Manufacturing
Location
Chicago,
IL,
US
Coinvestors
Blackhorn Ventures, Mitsubishi HC Capital America, NEC, Translink Capital, Alumni Ventures, FJ Labs, Lux Capital, Initialized Capital, Lorimer Ventures