Learn How Taffy Town Streched Innovation Further With Automation To Lead the Way In Continuous Improvement
Diane Choi
Marketing Analyst  
Tuesday, November 1, 2022

Insider Intelligence

Robotics 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 Barry as head of robotics monitoring and maintenance.

CEO Saman Farid, a former Silicon Valley venture capitalist, noticed a glaring absence of robotics when visiting warehouses, factories, and construction sites despite innovation in the field, and he wanted to do something about it. As the co-founder of Formic, his goal is to make deploying automation as easy as possible for companies. Read more >

Robotics