About Formic
Formic is an Industrial Goods & Manufacturing company based in Chicago (United States) founded in 2020 by Misa Ilkhechi and Saman Farid. Automation solutions are provided by Formic for industrial manufacturers. It operates on a Product-as-a-Service and Subscription Services model. Formic has raised $109.13 million across 6 funding rounds from investors including NEC, FJ Labs and Blackhorn Ventures. Formic was last valued at $100 million in January 2022. Its chief executive, as recorded, is Saman Farid. Its website formic.co draws about 18 thousand monthly visits. Formic offers products and services including Formic Palletizers, Formic Case Packers, Formic Floor Sweeping Robots, and Formic Production Intelligence (FPI). Its focus areas include Technology, Industrial Automation and Robotics. Its legal entity is Formic Technologies Inc. Its competitors include Terradepth and Aeolus Robotics; 2 of its 2 listed competitors have raised funding.
Company details
End-of-line automation systems are delivered by Formic to industrial manufacturers. Focus is placed on palletizing, case packing, and floor cleaning through robotic solutions. Full Service Automation is offered with no upfront capital expenditure, including 247 support, maintenance, and real-time data analytics via Formic Production Intelligence software. Operations are optimized in sectors like food and beverage, with an emphasis on reducing labor turnover and ergonomic injuries while improving productivity.
- Total Equity Funding$109.13M (USD)
in 6 rounds
- InvestorsNEC
& 14 more
Products & Services of Formic
Formic offers a comprehensive portfolio of products and services, including Formic Palletizers, Formic Case Packers, Formic Floor Sweeping Robots, and Formic Production Intelligence (FPI).
Palletizers are provided for end-of-line automation tasks.
Case packers are offered for efficient product packing.
Sweeping robots are deployed for production floor cleaning.
FPI software is used for real-time production monitoring.
Apps and channels of Formic
its YouTube channel Formic has 655 subscribers and 30 videos.
Videos from Formic
The most watched videos on Formic's YouTube channel, Formic (655 subscribers). Click a video to play it here.
More on Formic.
Funding Insights of Formic
Formic has successfully raised a total of $109.13M across 6 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $109.13M
- Total Rounds 6
- First Round $5.23M
(Mar 2021)
- Investors Count 15
All 6 funding rounds of Formic with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2026 | $50M | Series B | – | Mercato Partners | |
| Oct 2026 | Debt – Conventional | – | – | ||
| Jun 2024 | $27.4M | Series A | – | Blackhorn Ventures, Mitsubishi HC Capital America | |
| Jan 2022 | $100M | Debt – Conventional | – | – | – |
| Jan 2022 | $26.5M | Series A | $100M | Lux Capital | |
| Mar 2021 | $5.23M | Series A | – | – | – |
| Date | Valuation | Stage |
|---|---|---|
| Jan 2022 | $100M | •••••••• |
Last known valuation $100M (Jan 2022). 15 investors in total: 15 institutional.
Investors in Formic
Formic has secured backing from 15 investors, including venture fund and institutional investors. Prominent investors backing the company include NEC, FJ Labs and Blackhorn Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Tech and offline focused VC firm investing in geographies such as the US | blackhornvc.com | Boulder, United States | ||
US & Asia focused seed, early & expansion stage VC firm | translinkcapital.com | Palo Alto, United States | ||
Venture capital investing and portfolio management services for accredited investors. | av.vc | |||
Venture capital firm focused on marketplaces, gaming, web3, fintech, and multiple sectors | 2007 | fjlabs.com | New York, United States | |
Seed and early-stage technology companies are funded by Lux Capital. | luxcapital.com | Menlo Park, United States | ||
Seed and early-stage technology investments are managed by the firm. | initialized.com | San Francisco, United States | ||
B2B tech startups are invested in by Lorimer Ventures. | lorimerventures.com | Brooklyn, United States | ||
Venture capital firm focused on aerospace, biopharma, consumer, and multiple sectors | correlationvc.com | San Francisco, United States | ||
Sector-agnostic startup acceleration is facilitated by One Planet Group. | oneplanetgroup.com | Walnut Creek, United States | ||
| mercatopartners.com |
Investor details for Formic
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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People of Formic
28 people are tracked at Formic (13 in leadership, 15 in team).
| Name | Role | Group |
|---|---|---|
Misa Ilkhechi | Co-Founder | Leadership |
Saman Farid | Co-Founder & CEO | Leadership |
Theresa Dobson | VP, People | Leadership |
Jack Wagler | Treasurer & VP, Finance | Leadership |
Katherine Coco | Director, FP&A & Accounting | Leadership |
Jack Kaumo | Vice President of Sales | Leadership |
Tyler Smith | Director of Financial Operations and Compliance | Leadership |
Danijel Lolic | VP Of Product | Leadership |
Mika Saryan | VP Of Engineering | Leadership |
Andy Larson | Head of Robotic Deployment | Leadership |
Joel Onyshuk | Vice President Of Sales | Leadership |
Shawn Fitzgerald | Chief Marketing Officer | Leadership |
Nicholas Fulop | Sales Director | Leadership |
Hamdi Sheriff | Partnerships | Team |
Jon Matzke | Robotics Field Service Engineer | Team |
Megan Bosch | People Strategy & Operations Program Manager | Team |
Nicholas Keyes | Robotics Deployment Project Manager | Team |
Jennifer Ramsey | Event Marketing Manager | Team |
James Hasbany | Engineering Lead | Team |
Jon French | Automation Sales Manager | Team |
8 more people are available in the full profile.
Complete people profiles for Formic
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Timeline of Formic
4 dated milestones of Formic across 6 years, from founding to its latest funding, stage changes and deals.
- Founded Formic is founded.
- Funding First funding round of $5.2M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Debt – Conventional,.
Competitors of Formic
Formic has 2 listed competitors in our database, 2 of them funded. They include Terradepth and Aeolus Robotics.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| terradepth.com | 2018 | Austin, United States | $28M | 23 | Provides data collection technology for marine tracking systems | |
| aeolusbot.com | 2016 | San Francisco, United States | $30M | Humanoid robotic assistants for household tasks are provided. |
Detailed competitors of Formic
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Verified entity values are shown only after access is granted.
Web traffic of Formic
The website of Formic (formic.co) receives about 18.2K visits a month.
- Monthly visits18.2K
▲ 15.6% vs previous month
Websites whose visitors overlap most with Formic. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| odoo.com | 100% | 27.7M | #943 | View details | |
| google.com | 85% | 85.8B | #1 | View details | |
| reddit.com | 81% | 4.4B | #9 | View details | |
| linkedin.com | 72% | 1.9B | #18 | View details | |
| notion.so | 71% | 178.3M | #160 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 11 similar websites and full traffic analytics for Formic
The complete similar-websites list, audience overlap and engagement analytics require an active premium plan.
- 11 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
Verified entity values are shown only after access is granted.
Top companies in Industrial Automation & Robotics
3 companies that operate in the same segment as Formic (Industrial Automation & Robotics) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Developer of LiDAR-based sensors | 2002 | San Francisco, California, United States | USD 129 M | USD 169.38 M | 192 | |
Diversified electronics and automation equipment are manufactured and supplied. | 1885 | United States | USD 37.44 B | 6,810 | ||
AI and SaaS-based robots for warehouse automation are provided. | 2012 | Roswell, United States | USD 545.31 M | USD 39.76 M | 553 |
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Related news about Formic
Complete news archive for Formic
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
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Frequently Asked Questions about Formic
Formic was founded in 2020 and raised its 1st funding round 1 year after it was founded.
Formic is headquartered in Chicago, United States. It is registered at Chicago, Illinois, United States.
Saman Farid is the CEO of Formic, as recorded in our data. They have also founded this company.
Formic is a funded company, having raised a total of $109.13M across 6 funding rounds to date. The company's 1st funding round was a Series A of $5.23M, raised on Mar 2021.
End-of-line automation systems are delivered by Formic to industrial manufacturers. Focus is placed on palletizing, case packing, and floor cleaning through robotic solutions. Full Service Automation is offered with no upfront capital expenditure, including 247 support, maintenance, and real-time data analytics via Formic Production Intelligence software. Operations are optimized in sectors like food and beverage, with an emphasis on reducing labor turnover and ergonomic injuries while improving productivity.
Formic's top competitors include Terradepth and Aeolus Robotics.
Formic offers Formic Palletizers, Formic Case Packers, Formic Floor Sweeping Robots, and Formic Production Intelligence (FPI).
Formic has 15 investors. Key investors include NEC, FJ Labs, Blackhorn Ventures, Mitsubishi HC Capital America, and TransLink Capital.
The valuation of Formic is $100M as of Jan 2022.
Formic operates through Formic Technologies Inc..