Appears inManufacturing robots
Overview
Formic is a robotics-as-a-service (RaaS) company providing collaborative robot solutions to mid-market CPG manufacturers on a subscription basis. Founded in 2020 by Saman Farid, Formic has raised over 0M in funding, with a 7.4M round led by Blackhorn Ventures. The company offers palletizing, case packing, and other industrial automation with no CapEx.
Verified record
- Verified deployments
- 1 deployment on file
- Active incidents
- None on file
Key facts
Focus
Technology
Business Model
CEO & Founder
Total fundingsee investors →
Key round
Business model
VP Product
Data & sources
Web sources
1
1 source backing this record.View all →
Models (1)
View all models →Formic on the deployment map
Where Formic's robots are verified operating. Explore the deployment map by place and type.
Relationships
Current leadership (1)
- Saman Farid CEO & Founderreported, not verified
Founders (1)
- Saman Faridcofounder
Safety record
No incidents on record for Formic.
Only active incidents are counted. Retracted incidents are excluded from this summary but remain reachable at their canonical URLs.
Full safety record: incidents, sourcing, and exposure data →
Operated deployments (1)
- Formic Cobot RaaSChicago
Operator customers (1)
- Formic1 deployment
Recent coverage
Formic in third-party press
Peer companies
- DENSO Corporation2 models
- F&P Robotics2 models
- Novarc Technologies2 models
- Rethink Robotics2 models
- Techman Robot2 models
- AUBO Robotics1 model
Supplied by (3)
Mechanical / contract manufacturing
- KUKA AGvia Formic Cobot RaaSKUKA collaborative and industrial robot arms -- Formic Core OS runs across KUKA robot systems deployed in customer facilities; Formic owns/operates hardware under RaaS modelsupplies
- ABB Roboticsvia Formic Cobot RaaSABB collaborative and industrial robot arms -- Formic Core OS runs across ABB robot systems deployed in customer facilities; Formic owns/operates hardware under RaaS modelsupplies
- FANUC Corporationvia Formic Cobot RaaSFANUC collaborative and industrial robot arms -- Formic Core OS runs across FANUC robot systems deployed in customer facilities; Formic owns/operates hardware under RaaS modelsupplies
Inbound supply edges feeding this company directly or via the models it owns. Same source bar as the outbound view (verified against at least two strong sources).
Financial state
- Reporting basis
- private_reported
- Lifecycle stage
- mature
- Counterparty risk class
- low
Each numeric field carries its own basis marker. Aggregators report a number; this surface preserves the source class so verification depth travels with the value.
Funding rounds (1)
- Other2024-01-01
$27M(reported)
Investors: Blackhorn Ventures (lead)
Recent activity
Every change to this record is dated, sourced, and independently verified where marked.
- Verified media addedVerifiedJun 11, 2026
How Formic's Pay-for-Productivity Robotics Works
- Record createdJun 8, 2026
Added to the verified registry
Sources (1)
Common questions
- What is Formic?
- Formic is a robotics-as-a-service (RaaS) company providing collaborative robot solutions to mid-market CPG manufacturers on a subscription basis. Founded in 2020 by Saman Farid, Formic has raised over 0M in funding, with a 7.4M round led by Blackhorn Ventures. The company offers palletizing, case packing, and other industrial automation with no CapEx.
- What does Formic make?
- Formic has 1 robot model on the DEPLOY registry: Formic Cobot RaaS (Formic builds both physical robots and the AI that runs them).
- Who competes with Formic?
- On the DEPLOY registry, peer companies to Formic building in the same form factors include DENSO Corporation, F&P Robotics, Novarc Technologies, Rethink Robotics.
- Who is the CEO of Formic?
- Saman Farid is the ceo of Formic, per the DEPLOY registry.
- Where is Formic headquartered?
- Formic is headquartered in Chicago, Illinois, USA.
- How much funding has Formic raised?
- Formic has raised approximately $27M in disclosed funding on record in the DEPLOY registry.
- Where does Formic operate robots?
- Formic operates 1 verified deployment, including at Chicago.
- Is Formic a top robotics company?
- On DEPLOY's intelligence score, which blends verified deployments, funding, hiring, media, safety, and IP signals, Formic ranks in roughly the top 18% of companies tracked by the registry.
- When was Formic founded?
- Formic was founded in 2020.
- Is Formic safe?
- Formic has no incidents on record in the DEPLOY registry. This does not constitute a safety guarantee; it reflects the incidents DEPLOY has tracked and verified to date.
Methodology: Verified · 1 source (no primary) · last reviewed 2026-07-03
Verification posture
Verified
Low confidence
Review state
Stable
Last reviewed 2026-07-03
Sources by quality tier
- 1
- unclassified
- Unclassified source
The framework is documented at /methodology. Corrections at /corrections. Reviewer: DEPLOY editorial team.
Methodology surface for Formic.Peer companies
- DENSO Corporation2 models
- F&P Robotics2 models
- Novarc Technologies2 models
- Rethink Robotics2 models
- Techman Robot2 models
- AUBO Robotics1 model
In the press
Recent coverage mentioning Formic from third-party publications. Automatically surfaced; not part of the verified registry record.
Machine-readable surfaces
- Markdown mirror: /companies/formic.md
- RSS feed: /companies/formic/feed.xml
- JSON-LD: embedded in this page’s head
- REST API: /v1/companies/bfce44ff-a929-4f2b-b9b1-817fcbd6dfa9
- Revision history: /companies/formic/history
- Data documentation: /data
- Query this programmatically: Deploy MCP
Peer companies
- DENSO Corporation2 models
- F&P Robotics2 models
- Novarc Technologies2 models
- Rethink Robotics2 models
- Techman Robot2 models
- AUBO Robotics1 model
Reality vs attention
Formic draws attention at the 10th percentile but verifies reality at the 38th percentile among cobot robots. Hype Gap -27.9, 6th widest among cobot robots.
6-month trend
Analysis
Clean safety record across 1 verified deployment. Limited public visibility and press coverage relative to peers.
Signal flags
Dimension breakdown
Verified signal
Attention (reach, not merit)
DEPLOY Intelligence scores are computed from verified registry data: confirmed deployments, disclosed funding rounds, regulatory filings, active job listings, video viewership, and press coverage. Confidence ratings reflect data availability. Scores update nightly.
DEPLOY Indices — verified vs claimed
Last computed: Jul 23, 2026