MANUFACTURE.WIKI

Visualizing America's reindustrialization

Formic

PROCESS SCHEMATIC · ROBOTICS / ROBOTICS-AS-A-SERVICE LIVE

Founded: 2020
Stage: SERIES A
Raised: $59.1M
HQ: CHICAGO, IL
Layer: MANUFACTURING

Provides industrial robots to factories on a pay-by-the-hour, robotics-as-a-service basis.

Funding history

RoundAmountDateLead

Series A$26.5M2022-01Lux Capital

Series A extension$27.4M2024-06Blackhorn Ventures

Downstream: US manufacturers renting robots by the hour (packaging, palletizing, machine tending)

Related: Mind Robotics Physical Intelligence Collaborative Robotics Applied Intuition

Sources

Formic Raises $27.4 Million to Bring Automation to More Manufacturers (Businesswire) ↗Formic - Tracxn funding profile ↗Formic Technologies Raises $26.5 Million Series A Led By Lux Capital (Businesswire, Jan 2022) ↗