Formic

Formic develops robotic automation solutions for the manufacturing industry. The company’s palletizer fleet includes unfenced and fenced collaborative palletizers, a compact and standard industrial palletizer, and custom palletizer options. Formic also has a series of case packing and erecting options that improve the throughput, quality, and safety of manufacturers’ end-of-line packing and erecting operations. The company’s software suite includes Formic Core, an equipment-agnostic operating system that uses AI to configure a robot to perform any task in any location; Formic FAST, which uses lidar scans to evaluate a customer’s site and identify the proper robotic system for the business’ production requirements; and Formic Colony 2.0, command center software for fleet monitoring, management, and maintenance.

Formic’s unique robotics-as-a-service (RaaS) model enables all American manufacturers to reap the positive outcomes of robotic automation without the traditional barriers to entry: CapEx, human capital, and the maintenance required to keep the solution running. Formic’s product is accessible robot productivity without the complexity. The company’s monthly and annual contracts include a fixed rate with unlimited equipment usage, 24/7 technical support, 100% preventative and protective maintenance coverage, contracted performance rates, team training, and lead times of 10 weeks or less.

“Historically, advanced automation has been elusive for all but the largest manufacturers,” says co-founder and CEO Saman Farid. “But with Formic’s pricing model, customers pay nothing until the system is on their floor and producing, so they achieve positive ROI on day one. We take on—and remove—the risk, and they’re guaranteed performance. No surprise costs, and no being locked into a contract. It’s a model that benefits everyone.”