Formic

Formic is a Robotics-as-a-Service (RaaS) company that makes industrial automation accessible to small and mid-sized American manufacturers. Traditionally, deploying a robotic arm for welding, machine tending, or palletizing requires massive upfront capital, expensive third-party integrators, and in-house robotics experts to maintain the system. Formic completely flips this model. They purchase, program, deploy, and maintain the robotic systems, charging the factory only an hourly rate for the equipment's active operation. This allows businesses to immediately solve labor shortages and increase production with zero capital expenditure.