Resources

Formic Promotes From Within and Strengthens From Without to Support Continued Growth

Monday, October 31, 2022

Company 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 Product and Partnerships following continued company growth.  “This announcement reflects Formic’s commitment to maintaining and innovating our fleet of rental...

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Formic Launches First Turnkey Palletizer at Pack Expo 2022, Making Automation Faster and More Accessible for Small to Mid-Sized Factories

Wednesday, October 26, 2022

CHICAGO―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 to mid-sized businesses can onboard the technology and thrive amid today’s challenges.  Buying a robot is largely untenable for the...

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Formic Empowers 58-year-old Family-run Factory with its First Robot

Sunday, October 2, 2022

Formic'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 collaborative palletizer that was loading pallets within a few hours of delivery.    Like many U.S. packaging companies today, Chicago-based...

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Formic Hires Amazon, Coco, and BeyondTrust Alums Amid Hyper-growth Trajectory

Thursday, August 18, 2022

Formic’s risk-free, affordable, full-service pay-by-the-hour rental model removes traditional barriers to automation, helping small and mid-sized manufacturers compete CHICAGO―August, 2022, Formic, accelerating the adoption of automation across American manufacturing, has seen sustained 70% QoQ growth in both customer count and ARR since announcing $26.5 million in Series A funding in January and today announced a slate of new hires that reflect its commitment to maintaining and innovating their fleet of rental robots and continuing to expand their customer base.  ...

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Formic Technologies Raises $26.5 Million Series A Led By Lux Capital

Monday, February 7, 2022

Formic Technologies Raises $26.5 Million Series A Led By Lux Capital The new investments will help Formic accelerate deployments of  Robotics-as-a-Service for U.S. manufacturers CHICAGO—January 18, 2022—Formic Technologies, a provider of turnkey robotic solutions to American manufacturers, has raised $26.5 million in a Series A financing led by Lux Capital with participation from Initialized Capital, Correlation Ventures, Lorimer Ventures, One Planet VC and other strategic investors. In addition, Formic has secured access to more than $100 million of debt capital...

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Polar Hardware Deployment Press Release

Monday, November 22, 2021

Polar Manufacturing Rents Fully Customized Machine Tending Robot from Formic; Automates for First Time in 105 Years    Formic’s innovative “robotics-as-a-service” model lowers traditional barriers to automation; Polar Manufacturing Company expects to save up to $77,000 a year in labor costs.  CHICAGO―November 22, 2021-- Polar Hardware, a manufacturer of door and truck body hardware, chose Formic’s “robotics-as-a-service” offering to automate for the first time in 105 years of business. Formic partnered with DesignHawk from Chicago to engineer the machine tending system,...

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Formic Launch Press Release

Wednesday, September 1, 2021

First Fully Customized Robotics-as-a-Service Offering Lets Manufacturers ‘Hire’ Popular Robots at Low Hourly Rate By handling every aspect of financing and deployment, Formic empowers manufacturers to save money from day one and boost production.  CHICAGO, IL — August 24, 2021-- Robotics-as-a-service company Formic Technologies launched today with a simple value proposition: hire fully customized robots from top vendors at a low hourly rate and  no upfront cost. To help small and medium-size manufacturers benefit from automation, Formic handles every aspect...

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