Formic

Formic is an automation-as-a-service company based in Chicago, Illinois, specializing in robotic solutions for end-of-line manufacturing operations, particularly in case packing and palletizing. Founded in 2020, Formic operates on a rental model that allows manufacturers to access robotic automation without upfront capital expenditure, instead offering a fixed monthly fee. The company provides two main product categories: palletizing systems that stack cases onto pallets efficiently and safely, and case packing systems that enhance speed and reduce errors in hand-packing. Formic's Robots-as-a-Service model includes 24/7 technical support, maintenance coverage, and a real-time data tool called Formic Production Intelligence (FPI) for monitoring production performance. Formic primarily serves the food, chemical, and consumer packaged goods industries, helping over 100 small-to-medium manufacturers adopt automation. The company has achieved significant performance metrics, including over 1.2 billion products packed and stacked, a 99.8% uptime, and a 98% renewal rate, showcasing its commitment to improving manufacturing efficiency and safety.