Formic

Formic

Pay-as-you-go factory automation provider

Overview

Formic provides pay-as-you-go factory automation services. It helps businesses automate production without upfront capital by deploying flexible automation systems, then charging an hourly rate after the system starts producing. Formic handles deployment, monitoring, and maintenance, with 24/7 support and a proven 99% uptime. Solutions are tailored by automation experts using a selection of pre-vetted tools, and contracts are scalable to fit growth, allowing customers to pay only for the hours the automation is in use. Overall, Formic aims to make automation easy, affordable, and low-risk for manufacturers.

About Formic

Simplify's Rating
Why Formic is rated
C+
Rated B on Competitive Edge
Rated B on Growth Potential
Rated D+ on Differentiation

Industries

Robotics & Automation

Industrial & Manufacturing

Enterprise Software

Company Size

51-200

Company Stage

Series A

Total Funding

$159.1M

Headquarters

Chicago, Illinois

Founded

2020

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Simplify's Take

What believers are saying

  • Mitsubishi HC Capital America and others backed Formic's $27.4 million Series A extension.
  • Formic's June 11, 2026 headquarters expansion signals growing demand across manufacturers.
  • Humanoid Global's October 2025 commitment adds validation for Formic's humanoid pivot.

What critics are saying

  • Humanoid pilots across 2026-2027 divert capital from Formic's proven RaaS business.
  • RaaS hardware financing stays balance-sheet heavy, exposing Formic to utilization shocks.
  • No disclosed profitability leaves a prolonged hardware downturn threatening insolvency by 2027.

What makes Formic unique

  • June 2026 Bolingbrook HQ and 650,000 fleet hours show operational scale.
  • Formic's full-service RaaS bundles equipment, financing, monitoring, and maintenance under one monthly fee.
  • August 2026 Oakland lab and humanoid pilots widen its automation scope.

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Funding

Total Funding

$159.1M

Above

Industry Average

Funded Over

4 Rounds

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Above Average

Industry standards

$15M
$8.2M
Discord
$15M
Canva
$27.4M
Formic
$30M
Kalshi

Benefits

99% coverage for Medical, dental, & vision insurance plans (75% coverage for dependents)

Life insurance, Short Term Disability, & Long Term Disability plans

Employee Assistance Program

Paid parental leave

Equity

Company-sponsored 401k

$2,000 Home office allowance

Monthly phone & internet reimbursement

Flexible time off policy and 10+ company holidays

Bi-annual all-company retreats

Growth & Insights and Company News

Headcount

6 month growth

-1%

1 year growth

-4%

2 year growth

-2%
La Alameda Press
Aug 3rd, 2026
Robotics startup expands to Oakland, Bolingbrook still 'heartbeat of production'

Robotics startup expands to Oakland, Bolingbrook still 'heartbeat of production' Formic Technologies opens a 13000-square-foot California facility to develop humanoid robots and tap into Bay Area talent and AI expertise. [gamipress_button label="Yes" class="thumbs-rating-up thumbs-rating" url="#gutenslider-pwsyfz0ki-3"] [gamipress_button label="No" class="thumbs-rating-down thumbs-rating" url="#gutenslider-pwsyfz0ki-3"] Based on recent headline ratings, 89% of this readership currently trusts the local media, which has an average score of 89% regionally and is currently trending negative. Media Trust Score

Manufacturing Tomorrow
Jun 17th, 2026
Formic opens 53,000-square-foot chicagoland headquarters to meet growing demand for its ai-powered robotic automation.

Formic opens 53,000-square-foot chicagoland headquarters to meet growing demand for its ai-powered robotic automation. The move comes as Formic surpasses 650,000 production hours across its robotic fleet, a milestone that reflects the growing demand for Full Service Automation among small and mid-sized U.S. manufacturers who can't afford to fall behind. Formic, a Full Service Automation provider for U.S. manufacturers, celebrated the grand opening of its new 53,000-square-foot headquarters in Bolingbrook, IL, its largest facility to date and five times the size of its previous location. The June 11th event brought together manufacturing partners, customers, and local officials, including Mayor Mary Alexander-Basta of Bolingbrook, who joined Formic leadership in a robot ribbon-cutting ceremony to mark the occasion. More headlines. Articles. The move comes as Formic surpasses 650,000 production hours across its robotic fleet, a milestone that reflects the growing demand for Full Service Automation among small and mid-sized U.S. manufacturers who can't afford to fall behind. But that milestone doesn't just reflect demand; it's the foundation of Formic's AI advantage. That data trains Cortex and Core, Formic's proprietary models for scoping, deployment, and real-time operation, giving Formic a compounding edge that grows with every system it deploys, backed by the largest independent robotic fleet in the United States. "This space exists because the demand is real, the pipeline is growing, and we need the room to meet it," said Danijel Lolic, COO of Formic. "When we started, we had one core application and a clear conviction that the Robots-as-a-Service model could change manufacturing. What you see on this floor today is proof that the conviction was right and the model works. We've expanded from palletizing into case packing, pallet wrapping, and now machine tending, application categories that open up entirely new customers and facilities." A Facility Built for What's Next On June 11th, attendees got a look at the full breadth of Formic's rapidly expanding automation lineup: Palletizing: Where Formic started. The company built its reputation deploying palletizing solutions for food, beverage, and consumer goods manufacturers facing chronic labor shortages at the end of the line. Case Packing: An expansion of Formic's end-of-line automation footprint, helping manufacturers automate one of the most labor-intensive steps in the packaging process. Pallet Wrapping: Debuted publicly for the first time at Thursday's event, adding another critical end-of-line capability to the Formic offering. Machine Tending: Formic's newest application category opens the door to metal components manufacturers supplying aerospace, automotive, and industrial customers; the facilities that have needed automation the longest but faced the steepest barriers to entry. "Machine tending alone represents a massive expansion of who we can serve," said Shawn Fitzgerald, CRO of Formic. "We're talking about metal components manufacturers, the shops making parts for aerospace and automotive, who have not been able to automate due to capital constraints. Now they can unlock more production hours than ever before to get the job done without requiring that huge upfront cost and all the maintenance that comes along with it. The competitive landscape is shifting fast, and the manufacturers who act now are the ones who will win. We want to be their partner when they make that call." The Model Scales with the Mission As Formic expands its application categories, the commercial model stays the same: no capital expenditure, one flat monthly rate, full service from deployment through ongoing maintenance, and contracted production performance. Every new system Formic brings to market ships with the same guarantee. Formic was founded in 2020 to make automation accessible to every U.S. manufacturer, regardless of size. That mission has not changed; what has changed is the scope of what's possible and the scale of the operation behind it. If you missed Formic in Bolingbrook, Formic is opening a second new facility on the West Coast in Oakland, California, on August 19th. Join them for that grand opening by RSVPing here. About Formic Formic was founded in 2020 to accelerate the accessibility and ease of automation across American manufacturing by delivering the positive outcomes that robotic automation enables: more capacity, consistency, and reliability; less cost, downtime, and worker safety issues. For $0 in capital investment, Formic's Full Service Automation model delivers the equipment and systems to do the job, the service and parts to keep it running, and the technology and software to measure real-time productivity and optimize performance - all for one flat monthly rate.

World Today News
Oct 22nd, 2025
Humanoid Global Invests in Formic Robotics

Humanoid Global has made a strategic investment in Formic to boost autonomous robotics manufacturing. This investment aims to enhance the adoption of robotic solutions in the manufacturing sector. Formic, recognized for its innovation, simplifies the deployment and scaling of robotic workcells. The investment aligns with Humanoid Global's strategy, though it involves risks and uncertainties. Further details are available on Humanoid Global's SEDAR+ profile.

GlobeNewswire
Oct 21st, 2025
Humanoid Global Announces Commitment to a Strategic Investment in Formic to Accelerate the Adoption of Autonomous Robotics in Manufacturing

– NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES –...

FinancialContent
Sep 25th, 2025
Formic Fleet Surpasses 400,000 Production Hours Backed by Expanded Product Portfolio

At PACK EXPO Las Vegas next week, Formic will debut three major innovations designed to help manufacturers further automate end-of-line processes and fill labor gaps across the facility:

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