What if you could “hire” and “fire” industrial robots like employees? Industry newcomer Formic Technologies aims to make this vision a reality, and it could change manufacturing forever.
Our company, Formic Technologies announced its new Robots By The Hour service, which has been in development since September of 2020. With Formic, businesses can use top-tier robotics technologies at no upfront cost, saving them money from day one.
Saman Farid, our CEO and Co-Founder at Formic Technologies, says: "Anyone familiar with manufacturing knows the challenges of deploying automation - it's cost-prohibitive for smaller manufacturers, it's complicated, and is fraught with risk. Buying automation technology also limits flexibility. This is an especially dire problem now, as manufacturers are facing an unprecedented labor shortage, and global competition is at an all-time high. U.S. manufacturers badly need a better way to access the cost savings of automation." He added with a smile: "You can think of us like a staffing agency, but with robots."
Formic Technologies offers robot machine operators, welders, and package handlers at no upfront cost while guaranteeing system uptime, saving manufacturers 42% on their labor rates on average. The only thing we ever charge is a single hourly rate, and this includes system design, installation, equipment, maintenance, and upgrades. We designed this model with ease of access in mind. Our CEO once said: "technology doesn’t change the world until you make it accessible to those who need it most."
We focus on a range of robotics applications, including machine tending, picking/packing, palletizing, welding, and inspection. But, unlike other robot-as-a-service companies and even robotic system integrators, Formic can work with any provider of robotics equipment.
Saman Farid also said "We want to give our customers options. With our new Robots By The Hour service, they can feel confident knowing that Formic is handling the automation, while they can focus on other aspects of running a business. And since we guarantee system performance, we shoulder the risk, as if the system is not performing, the customer pays nothing."
We've been in business since September of 2020, and have always aimed to make automating easy for businesses of all sizes.
Our Robots By The Hour service has already launched. To find out more about the service and Formic Technologies, visit formic.co.
