Facts

• Segment: Industrial
• Country: United States
• Founded: 2020
• Website: https://formic.co/

Profile sections

• Summary
• Market context
• Facts
• Funding
• Investors
• Events
• Team
• Relationships
• Customers and deployments
• Sources

Summary

Formic provides full-service robotic automation for mid-market manufacturers through a robots-as-a-service model. It deploys palletizing, case packing, machine tending, pallet wrapping, AMR and general-purpose robot systems without customer CapEx, backed by service, monitoring and uptime operations.

Market context

Formic deploys and operates robotic workcells for manufacturing customers, including palletizing, case packing, machine tending, pallet wrapping, AMR movement and general-purpose robot pilots.

Facts

• Website: https://formic.co/
• HQ: Bolingbrook, Illinois, United States
• Founded: 2020
• Segment: Industrial
• Known funding rounds: 2

Funding

• 2024-06-25 - Funding round - $27M - Formic raises $27.4M to scale manufacturing automation RaaS - source: formic.co
• 2022-01-25 - Series A - $27M - Formic raises USD 27M Series A for robotics-as-a-service - source: aibusiness.com

Investors

• Lux Capital - Lead - Vc - 2 funding events - repeat backer - first seen 2022-01-25 - latest 2024-06-25
• Blackhorn Ventures - Lead - Vc - 1 funding event - first seen 2024-06-25
• Chicago Ventures - Participant - Vc - 1 funding event - first seen 2024-06-25
• Eclipse - Participant - Unknown - 1 funding event - first seen 2024-06-25
• Fathom Fund - Participant - Vc - 1 funding event - first seen 2024-06-25
• Foundamental - Participant - Unknown - 1 funding event - first seen 2024-06-25
• Initialized Capital - Participant - Vc - 1 funding event - first seen 2024-06-25
• Mitsubishi HC Capital America - Participant - Corporate / Cvc - 1 funding event - strategic/corporate - first seen 2024-06-25
• Translink Capital - Participant - Vc - 1 funding event - first seen 2024-06-25
• Correlation Ventures - Participant - Vc - 1 funding event - first seen 2022-01-25
• Lorimer Ventures - Participant - Vc - 1 funding event - first seen 2022-01-25
• One Planet VC - Participant - Unknown - 1 funding event - first seen 2022-01-25

Events

• 2026-06-16 - Facility Opening - Formic opens 53,000 sq ft Bolingbrook headquarters - The new headquarters is five times larger than Formic’s previous 12,000 sq ft headquarters.
• 2024-06-25 - Funding - Formic raises $27.4M to scale manufacturing automation RaaS - Formic announced a $27.4 million financing round to expand Robots-as-a-Service automation for U.S. manufacturers.
• 2024-01-25 - Partnership - Jacobi Robotics and Formic team up to simplify robot deployment for manufacturers - Jacobi Robotics and Formic announced a collaboration to speed robotic cell configuration using AI.
• 2022-01-25 - Funding - Formic raises USD 27M Series A for robotics-as-a-service - Lux Capital led the financing.

Team

• Saman Farid - Founder & CEO
• Misa Ilkhechi - Co-Founder & VP of Product and Partnerships
• Jack Wagler - CFO

Relationships

• Jacobi Robotics - deployment_partner - Jacobi and Formic collaborate to simplify robot deployment for manufacturers via AI-assisted robotic cell configuration.

Customers and deployments

• Facility Square Feet - 53,000 square feet - 2026-06-16 - Formic Bolingbrook headquarters - United States - Formic opened a 53,000 square foot Bolingbrook headquarters, five times larger than its prior site, to support r…
• Reported Cumulative Production Hours - more than 650,000 production hours - 2026-06-16 - Formic customers - manufacturing automation - Formic disclosed more than 650,000 production hours across customer operations for i…