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It’s no secret that we’re living in some pretty turbulent economic times. In the last several weeks major layoffs have been announced at Amazon, Meta, Twitter, Re/Max, GE Appliances, JPMorgan, Electrolux, and HelloFresh to name a few. The reason for this economic downturn according to Business Insider is two-fold: slowing business growth and increased labor costs. While companies drastically reduce...
Read MoreAffordable healthcare. Reusable rockets. Unlimited manufacturing labor. These are a few of the stickiest challenges that some American companies are tackling. Andreessen Horowitz, a top tech VC firm with $20B under management, just released their list of the top 50 companies kickstarting American renewal, called the “American Dynamism 50.” What is American Dynamism? Andreessen Horowitz defines it this way: “It...
Read MoreRobotics companies have joined other industries in feeling the economy’s pain, but Formic, with its robotics-as-a-service (RaaS) platform, is an outlier. The company, which rents out robots for $8 to $30 an hour, is accelerating automation adoption for US manufacturers. Formic recently reported increasing its customer count 70% QoQ following a $26.5 million Series A round in January. It also increased its headcount 35%, and brought on Amazon alum Karl...
Read MoreCompany reshuffle sees Seegrid alum Jack Kaumo hired as new VP of Sales, with Co-Founder Misa Ilkhechi promoted to VP of Product and Partnerships CHICAGO―October, 2022, Formic, accelerating the adoption of automation across American manufacturing, today announced that automation sales leadership exec Jack Kaumo has been joined as VP of Sales, with Co-Founder Misa Ilkhechi promoted to VP of...
Read MoreCHICAGO―October 23, 2022, Formic, accelerating the adoption of automation across American manufacturing, today announced the release of the SL20 Palletizer – the inaugural product in a new catalog of certified, off-the-shelf, robotics-as-a-service solutions available at a low cost per hour. Built by Sourcelink Solutions, Formic’s new offering further underlines Formic’s commitment to removing the barriers to automation so that small...
Read MoreThe Thomas Industry Podcast is back and better than ever! You don't want to miss this episode on automation. "The thing that we've heard over and over and over again from our customers is 'Yeah, we've been planning to automate. We're right about to do it. We've been planning this project for the last five or ten years.' Well, why...
Read MoreFormic's unique Robots-as-as-Service model activated a cobot within hours of delivery, cut costs on hiring and re-training temporary workers, and enhanced safety CHICAGO―Sept 26, 2022, Formic, accelerating the adoption of automation across American manufacturing, empowered Compact Industries, Inc. – a mid-sized food and beverage packaging specialist founded in 1963 – by designing and deploying the company’s first robotic system, a...
Read MoreLearn how using Robotics-as-a-Service can help you battle the oncoming recession and improve capacity. Download Now >
Read MoreConsidering the rising competition from low-wage manufacturers offshore and the dearth of job candidates willing and able to work with their hands, one would assume that American manufacturers are in a rush to automate their production lines. Not quite, as the founders of Formic Technologies in Chicago can tell you. Misa Ilkhechi and Saman Farid started Formic two years ago...
Read MoreLearn how America's packaged goods supply chain is using Robotics-as-a-Service to battle labor challenges and improve capacity for major brand name customers. Download Now >
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