Founded in 2020, Formic provides Robots-as-a-Service (RaaS) automation to U.S. manufacturers. Companies pay a low hourly rate for equipment, 24/7 monitoring, 100% maintenance and guaranteed performance rates (99%+ uptime) without the need for human and capital-intensive investments. By removing the financial and operational barriers to automation adoption, Formic allows manufacturers to increase productivity, safety, and quality faster than ever before, while achieving positive ROI on day one.

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Funding Events

Date	Amount	Type	Investors	Valuation
06/25/24	$27,400,000	Series A	Blackhorn Ventures Lorimer Ventures Mitsubishi HC Capital America NEC Corporation TransLink Capital	undisclosed
10/23/26	$50,000,000	Series B	Blackhorn Ventures Citi Ventures Initialized Capital Light Ray Ventures Lightscape Partners Lorimer Ventures Lux Capital Mercato Partners S2G Investments	undisclosed