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.
Company Size
51-200
Company Stage
Series A
Total Funding
$159.1M
Headquarters
Bolingbrook, Illinois
Founded
2020
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