Formic Robots-as-a-Service Program
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robotics industryFreightWaves
•Technology
Technology
Formic democratizing rental robotics amid industry growth concerns

77% Informative
Formic has established itself as a provider of automation for smaller businesses with its robots-as-a-service rental program.
Formic’s main customers include over 120 small to medium-size factories across the U.S. Formic CEO Saman Farid said customers can treat Formic as a kind of “robot staffing agency”.
Eighty percent of robots in America today are sold to the automotive sector.
Farid cited market saturation among the largest companies as the main reason robotics as a whole has slowed in growth.
The smaller companies are where the “untapped demand” is, Farid said.
VR Score
77
Informative language
72
Neutral language
70
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English
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48
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Attention-grabbing headline
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Time-value
medium-lived
External references
4
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1
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