When was Formic founded?

Formic was founded in 2020 and raised its 1st funding round 1 year after it was founded.

Where is Formic located?

Formic is headquartered in Chicago, United States. It is registered at 108 Stratton Way Southeast, Medicine Hat.

How many employees does Formic have?

As of Jun 30, 2026, the latest employee count at Formic is 115.

Is Formic a funded company?

Formic is a funded company, having raised a total of $59.1M across 4 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on Mar 26, 2021.

How much is Formic worth?

The latest valuation of Formic is $***** as of Jan 18, 2022.

When was the latest funding round of Formic?

Formic's latest funding was a $***** Series A round on Jun 25, 2024, with participation from 9 investors.

Where does Formic rank among its competitors?

Formic ranks 2nd amongst 55 active competitors, of which 10 are funded. It stands 2nd in terms of total funding among its competitors. The most recent competitor to raise funding was Alphadroid, which secured $3.8M in May, 2026.

Who are the top competitors of Formic?

Formic's top competitors include Robotemi, Aeolus Robotics and TheKer. Among them, Alphadroid secured the most recent funding round in May, 2026.

Formic - 2026 Company Profile, Team, Funding & Competitors

Company Details

Provider of robotics inspection, repair & consulting services for various industries. It provides a Robotics-as-a-Service model that delivers customized industrial automation through subscription. It offers solutions to various industries from metal forming, fabrication, machining, consumer goods, manufacturing, food & beverage, material handling, etc.

Website: formic.co
Social
Email ID: *****@formic.co, *****@formic.co
Registered Address: 108 Stratton Way Southeast, Medicine Hat

Key Metrics

Founded Year

2020

Location

Chicago, United States

Stage

Series A

Total Funding

$59.1M in 4 rounds

Latest Funding Round

Series A, Jun 25, 2024, $*****

Post Money Valuation

$***** as on Jan 18, 2022

Investors

Lux Capital & 10 more

Ranked

2^nd among 55 active competitors

Employee Count

115 as on Jun 30, 2026

Similar Companies

Robotemi & 40 more

View Formic's full profile

Formic is associated with 2 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
Formic Corporation CIN: 13231593 , Canada, Active	Aug 01, 2021	-	-	-
FORMIC TECHNOLOGIES, INC. CIN: 32085595638 , United States, Active	Jul 25, 2022	-	-	-

Formic has raised a total funding of $59.1M over 4 rounds. Its first funding round was on Mar 26, 2021. Its latest funding round was a Series A round on Jun 25, 2024 for $*****. 9 investors participated in its latest round. Formic has 11 institutional investors.

Here is the list of recent funding rounds of Formic:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jun 25, 2024	1748124	Series A	7190605	1250211	2694624	7601210
Jan 18, 2022	4733512	Series A	4699798	1717509	3948891	Initialized Capital & 3 more
Jan 18, 2022	5119969	Conventional Debt	3306576	1312408	6211006	8278912

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View details of Formic's funding rounds and investors

The founders of Formic is Misa Ilkhechi.

Here are the details of Formic's key team members:

Misa Ilkhechi: Co-Founder of Formic.
Contact Info: 1 email address

Formic's Board of Directors

Formic's board has 2 active members. Garry Tan and Saman Amirkia Farid are independent board members.

Here is the list of Formic's board of directors:

Name	Type	Representing	Status	Duration
Garry Tan	Independent board member	-	Current	5y 3m
jdejcid	Independent board member	-	Current	2y 5m

View details of Formic's Founder profiles and Board Members

Formic's employee count trend

Formic has 115 employees as of Jun 26. Here is Formic's employee count trend over the years:

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Top competitors of Formic include Robotemi, Aeolus Robotics and TheKer. Here is the list of Top 10 competitors of Formic, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Robotemi 2016, United States, Series C	Robotics company specializing in AI-powered autonomous robots for various industries	$95M	Joy Capital, Pleasant Bay Capital Partners ... & 7 others	65/100
2nd	Formic 2020, Chicago (United States), Series A	Provider of robotics inspection, repair & consulting services for various industries	$59.1M	FJ Labs, NEC & 9 others	62/100
3rd	Aeolus Robotics 2016, San Jose (United States), Series B	Provider of robotic assistant for household applications	$30M	GigaMedia, St. Care Group & 2 others	59/100
4th	TheKer 2022, Barcelona (Spain), Seed	Provider of Robots as a Service solutions	$24.1M	Kibo Ventures, JME Venture Capital & 5 others	47/100
5th	Alphadroid 2022, Noida (India), Seed	It is a Make-in-India robotics company that specializes in building conversational AI and robotics solutions for various industries including Healthcare, Hospitality, Restaurants, Retail, Public Spaces, and Intra-logistics	$3.8M	Alkemi Growth Capital, Shree Vasu Logistics	41/100
6th	Sixai 2019, Jerusalem (Israel), Series A	Provider of robotic automation solutions for multiple applications	$5M	SIBF, Yozma Group Korea	39/100
7th	HelloGard 2022, Austin (United States), Unfunded	Provider of robotic solutions for multiple industries	-	-	34/100
8th	Grupo ADD 2007, Madrid (Spain), Unfunded	Provider of professional humanoid robots and service solutions	-	-	33/100
9th	ARTrobot 2015, Beijing (China), Series A	Developer of bipedal humanoid robot for industrial and research applications	$1.47M	Cowin Capital, Jinbang Capital	33/100
10th	Websym Solutions 2001, Pune (India), Unfunded	Provider of digital transformation and IoT services	-	-	29/100