Robotics & Automation News

Where Innovation Meets Imagination

formic

Formic raises $27.4 million to ‘bring automation to more manufacturers’

by

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.

This new funding brings the total Series A round to more than $52 million since January 2022.

Formic delivers fully supported robotic automation at a low hourly rate, including deploying the system and providing continuous monitoring and maintenance throughout the engagement to ensure success. [Read more…] about Formic raises $27.4 million to ‘bring automation to more manufacturers’

ICON sees 20 percent production boost and 40 percent cost reduction through Formic robotics

by

Formic, a provider of automation across American manufacturing, says its automation partnership with ICON Injection Molding, which involved the deployment of Formic’s Tend solution, has been “successful”.

Arizona-based ICON Injection Molding, which produces plastic parts for laboratory use and defense equipment for clients like Axon, recognized the need to automate but was unable to overcome the barriers of upfront capital, risk, and expertise.

The family-owned business sought to reduce risk to its employees from dangerous, repetitive activities that could potentially lead to injury, staff turnover, operational inefficiencies, and higher prices for end customers. [Read more…] about ICON sees 20 percent production boost and 40 percent cost reduction through Formic robotics

Formic makes robotics available to hire ‘by the hour’

by

Formic, a startup robotics-as-a-service company, has introduced Formic Flex, which it describes as “a unique service offering that recognizes the shifting needs and changing requirements that manufacturers face”.

Formic Flex enables manufacturers to subscribe to robotic systems “by the hour” and when their needs shift, swap those systems for other systems at no cost.

Allowing manufacturers to boost their productivity without being tied to specific equipment, Formic Flex applies to selected and certified robotic tenders across various applications, such as machine tending, welding, palletizing, depalletizing, and case packing. [Read more…] about Formic makes robotics available to hire ‘by the hour’

Formic launches industry’s ‘first turnkey palletizer’

by

Formic, a provider of robotic technologies on a pay-as-you-go basis, has released its SL20 Palletizer – the inaugural product in a new catalog of certified, off-the-shelf, robotics-as-a-service solutions available at a “low cost per hour”.

Built by Sourcelink Solutions, Formic says its new offering further underlines its “commitment to removing the barriers to automation” so that small to mid-sized businesses can onboard the technology and thrive amid today’s challenges.

Buying a robot is largely untenable for the majority of manufacturers due to the risk, complexity, upfront capital, and expertise required. [Read more…] about Formic launches industry’s ‘first turnkey palletizer’

Formic supplies 58-year-old family-run factory Compact Industries with its first robotic system

by

Formic, a supplier of automation technology on a pay-as-you-go basis, has supplied 58-year-old family-run factory Compact Industries with its first robotic system.

Located in St Charles, Illinois, Compact faced challenges of a shrinking labor pool, high worker turnover, and supply and wage inflation; struggled to meet the increasing demands of the Fortune 500 companies it serves.

Formic’s robots-as-a-service model activated a cobot within hours of delivery, cut costs on hiring and re-training temporary workers, and enhanced safety. [Read more…] about Formic supplies 58-year-old family-run factory Compact Industries with its first robotic system

Interview: Formic aims to change the way you integrate robotics and automation into your facility

by

Formic Technologies is a new type of company which, itself, is the result of the huge changes that are occurring in the robotics and automation market, what with all sorts of new robots and technologies emerging, none of which is cheap to buy, and creating an increasing amount of complexity when it comes to implementing them in an integrated system at, say, a factory. 

In simple terms, you can hire robots – for example, Universal Robots collaborative robots – and other automation technologies from Formic. But it’s more than that. You can also have Formic design the implementation, and handle the integration, for which the startup company has many established partners.

And possibly Formic’s unique selling point is its promise to link its income from its customers to those customers’ success with the automation systems Formic installs. In other words, it’s a kind of like a robotics-as-a-service company which you can pay as you go according to a sliding scale – or “Easy to start, easy to scale”, as Formic likes to put it. [Read more…] about Interview: Formic aims to change the way you integrate robotics and automation into your facility

Specialist ‘robotics-as-a-service’ startup lets manufacturers ‘hire’ popular robots at ‘low hourly rate’

by

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’