A new robotics-as-a-service company Formic Technologies has launched with a simple value proposition: hire fully customized robots from top vendors at a “low hourly rate and no upfront cost”.
To help small and medium-size manufacturers benefit from automation, Formic handles every aspect of a financing and implementation – from scoping, engineering, purchasing, implementation, and maintenance. The company also guarantees uptime, with customers paying nothing for system downtime.
Traditionally, manufacturers buy robots, which is a lengthy, complex, inflexible, and expensive process. These barriers to entry are so high for smaller manufacturers that they often refrain from implementing automation altogether. [Read more…] about Specialist ‘robotics-as-a-service’ startup lets manufacturers ‘hire’ popular robots at ‘low hourly rate’