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Data as of 28 October 2026

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Formic

United States United States · Industrial RaaS / physical AI commercialization · private
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This company was auto-listed from our component database and has not yet had a full editorial review. The facts below come from supplier and product data; treat as unverified until reviewed.

Summary

Robot-as-a-Service commercialization platform: equipment, deployment, maintenance, financing, production data for U.S. factories. Claims 750k+ production hours, 100+ facilities, 30+ states, 99.6% uptime. Expanding from task-specific (palletizing/packing/machine tending) into general-purpose robotics; collaboration with Physical Intelligence. Assembly in Bolingbrook IL; R&D Oakland CA.

Key facts

Headquarters
Chicago, Illinois
Founded
2020
Role
builder
Category
Industrial
Sector
Industrial RaaS / physical AI commercialization
Status
private
CEO
Saman Farid
Funding
$50M Series B + debt (Oct 2026) led by Mercato Partners; S2G debt; prior rounds undisclosed here