Full-Time
Confirmed live in the last 24 hours
Factory automation solutions with pay-as-you-go model
$93k - $140kAnnually
Senior
Chicago, IL, USA
The position requires a hybrid schedule with 3+ days a week in the Woodridge, IL office.
You match the following Formic's candidate preferences
Employers are more likely to interview you if you match these preferences:
Formic makes factory automation accessible and affordable for businesses by offering flexible automation solutions without the need for significant upfront capital investment. Clients pay a low hourly rate for the use of automation systems, while Formic handles deployment, monitoring, and maintenance, reducing financial risk. The company tailors its solutions to meet specific client needs and provides 24/7 support, boasting a historical uptime of 99%. Formic's goal is to simplify factory automation, helping businesses improve efficiency and reduce labor costs.
Company Size
51-200
Company Stage
Series A
Total Funding
$57.5M
Headquarters
Chicago, Illinois
Founded
2020
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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
Robotics investments topped $7.4 billion for the month of October 2024, the result of 77 funding rounds. The investment total was led by Waymo’s $5.6 billion raise, which is the largest single round of the year through November. October’s total was the largest through the first 10 months of the year. The previous monthly high was the $3.7 billion raised in September 2024. The total investment for the period of January through October 2024 was more than $20 billion. Developers of autonomous driving technologies once again dominated the list of largest investments for the month
Joel Onyshuk joins Formic as VP of Sales to scale the company's business footprint, and Todd Plotner joins as the company's first General Counsel to strengthen finance infrastructure.
Global Brain has invested in Formic Technologies, Inc., a U.S.-based startup company that designs, develops, and maintains industrial robots.
Mitsubishi Electric, through its ME Innovation Fund, has invested in U.S.-based startup Formic Technologies Inc., marking its 8th investment. Formic offers subscription-based industrial robot solutions, addressing automation needs in manufacturing and logistics. This partnership aims to combine Formic's unique business model with Mitsubishi's automation expertise to enhance customer value and accelerate automation. Formic was founded in September 2020 and is led by CEO Saman Farid.
Mitsubishi Electric Corporation (TOKYO: 6503) announced today that its ME Innovation Fund has invested in Formic Technologies Inc., a U.S.-based start
Autonomous vehicles fuel $2.7B funding boom in June 2024. By Dan Kara | July 29, 2024Listen to this article. Forty-eight companies that make robots or relevant enabling technologies raised a total of $2.7 billion in June 2024. At press time, this was the highest monthly funding total of 2024. It exceeded May’s total by more than $500 million and was more than double the 12-month trailing investments average of $1.3 billion. Robotics investments for the first six months of 2024 totaled about $8.4 billion
Formic also announced a joint commercial agreement with Mitsubishi HC Capital America to finance and support the lifecycle of its RaaS model, which the pair hopes will address the financial barriers to automation adoption.
Formic, a provider of Robots-as-a-Service (RaaS) automation for US manufacturers, has raised another $27.4 million in Series A financing led by Blackhorn Ventures with participation from Mitsubishi HC Capital America, NEC, Translink Capital, Alumni Ventures, FJ Labs, Lux Capital, Initialized Capital and Lorimer Ventures.
NEC's ecosystem CVC fund, "NEC Orchestrating Future Fund," has invested in US-based Formic Technologies, which offers Robotics-as-a-Service (RaaS). This investment aims to address labor shortages in manufacturing and logistics by promoting robotics adoption. Formic's subscription model and proprietary software, utilizing digital twin technology, streamline robotics implementation and maintenance. NEC and Formic plan to support global customers facing robotics adoption challenges.