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 6945 NORTHPARK BLVD STE L,CHARLOTTE,NC,28216,0.

How many employees does Formic have?

As of Sep 30, 2026, the latest employee count at Formic is 123.

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 1st amongst 53 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 Exclaim Robotics, which secured $5M in Jul, 2026.

Who are the top competitors of Formic?

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

Formic - 2026 Company Profile, Team, Funding & Competitors

Company Details

Provider of full-service industrial robotic automation, including the robotic systems themselves under its Robotics-as-a-Service model, along with deployment, software, maintenance and support

Website: formic.co
Social
Email ID: *****@formic.co, *****@formic.co
Phone Number: +1 **********
Registered Address: 6945 NORTHPARK BLVD STE L,CHARLOTTE,NC,28216,0

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 & 12 more

Ranked

1^st among 53 active competitors

Employee Count

123 as on Sep 30, 2026

Similar Companies

Robotemi & 41 more

View Formic's full profile

Formic is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
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 13 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	4317352	Series A	2168338	7246031	5870917	8897967
Jan 18, 2022	6920881	Series A	4651208	6178937	8573262	Initialized Capital & 3 more
Jan 18, 2022	1590202	Conventional Debt	9913942	1046271	6052251	4038896

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View details of Formic's funding rounds and investors

The founders of Formic is Misa Ilkhechi. Saman Farid is the CEO of Formic.

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 5m
hdqegsd	Independent board member	-	Current	6y 2m

View details of Formic's Founder profiles and Board Members

Formic's employee count trend

Formic has 123 employees as of Sep 26. Here is Formic's employee count trend over the years:

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Top competitors of Formic include Aeolus Robotics, Robotemi and Alphadroid. 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	Formic 2020, Chicago (United States), Series A	Provider of full-service industrial robotic automation, including the robotic systems themselves under its Robotics-as-a-Service model, along with deployment, software, maintenance and support	$59.1M	TransLink Capital, NEC & 11 others	62/100
2nd	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
3rd	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	56/100
4th	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	55/100
5th	Octobotics Tech 2020, Noida (India), Seed	Manufacturer of autonomous robotic platforms for maritime and industrial inspection	$1.7M	Navam Capital, BYT Capital & 8 others	47/100
6th	TheKer 2022, Barcelona (Spain), Seed	Provider of Robots as a Service solutions	$24.1M	Kibo Ventures, JME Venture Capital & 5 others	46/100
7th	Grupo ADD 2007, Madrid (Spain), Unfunded	Provider of professional humanoid robots and service solutions	-	-	33/100
8th	ARTrobot 2015, Beijing (China), Series A	Developer of bipedal humanoid robot for industrial and research applications	$1.47M	Cowin Capital, Jinbang Capital	33/100
9th	Cardinal Robot 2020, Palo Alto (United States), Unfunded	Provider of RaaS-based solutions for multiple industries	-	-	28/100
10th	Exclaim Robotics 2026, Switzerland, Seed	Developer of autonomous robots designed for data center floor operations	$5M	Playfair Capital, Founderful	28/100