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CHICAGO—December 12, 2024—Formic, a Robots-as-a-Service (RaaS) automation provider for U.S. manufacturers, officially announced the addition of Joel Onyshuk as its Vice President of Sales and Todd Plotner as the company’s first General Counsel. Following continued business growth and an additional Series A financing round of $27.4 million in June, Onyshuk and Plotner's collective industry experience supports the company’s goal to...
Read MoreRobots are everywhere. Tesla is touting its humanoid robot coined Optimus, Chipotle has deployed Chippy to make tortilla chips, and startup Perceptive completed its first fully automated dental procedure using an AI-powered robot this year. These are just a few examples of companies using robotic automation to boost productivity. As robots become increasingly commonplace across industry, many believe automation eliminates...
Read MoreThe U.S. manufacturing industry is experiencing strong growth, but finding labor is a major obstacle. This is true for positions with specialized expertise and manual production line work, as baby boomers continue to retire and the appeal of manual work declines. There are currently 1.5 million unfilled manufacturing jobs in the U.S. today, and it’s no secret that companies are...
Read MoreCPG companies across the United States produce billions of products every day to fill our shelves with food, beverages, personal care, cleaning supplies, medicine, and more that allow people like us to live our lives with ease. However, getting the job done and shipments out the door has become increasingly difficult over the last 5-10 years. Labor availability for manufacturing...
Read MoreIt’s no secret - the manufacturing climate has shifted significantly over the last few years. Companies are dealing with increased demands for efficiency, quicker turnaround times, and better pricing. This comes with the growing challenges of finding and retaining skilled workers, the rising cost of raw materials, both of which lead to increasing costs and stagnant productivity gains. Many are...
Read MoreWe're thrilled to announce an exciting presentation at the upcoming International Manufacturing Technology Show (IMTS) in Chicago, IL. Shawn Fitzgerald, VP of Sales and Marketing at Formic, and Austin Hennessey from Mitsubishi HC Capital North America (HCCNA), will be taking the stage to deliver a compelling talk titled "Fueling US Manufacturing." This must-attend session will take place in the North...
Read MoreWhich Is Right For Your Production Line? In today's competitive manufacturing environment, streamlining processes and maximizing efficiency are top priorities. Many manufacturers are now looking to automation as the answer to these challenges. While robotics and other technologies may be utilized throughout a facility, the end-of-line processes, such as palletizing, are a great area to start. However, the amount of...
Read MoreCHICAGO—June 25, 2024—Formic, a provider of Robots-as-a-Service (RaaS) automation for U.S. manufacturers, today announced it has raised another $27.4 million in Series A financing led by Blackhorn Ventures with participation from Mitsubishi HC Capital America, NEC and Translink Orchestrating Future Fund, Alumni Ventures, FJ Labs, Lux Capital, Initialized Capital and Lorimer Ventures. This new funding brings the total Series A...
Read MoreToday is a special day for robots and manufacturers in America. I’m proud to announce that Formic has secured $27.4M in additional funding led by Blackhorn Ventures, which will accelerate and scale our mission of putting more robots to work in American factories. This brings our total Series A funding to $53.9M. Formic was founded with a vision to create...
Read MoreMi Rancho has been delighting customers with authentic and fresh tortillas, chips, and salsas since its establishment in 1939. Originally founded as a grocery store in Oakland, California the business has evolved and grown into a food provider for large nation-wide retail partners. Today, the company operates from their 150,000 square foot facility in Elk Grove and is growing more...
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