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Saman Farid
Founder and CEO, Formic
Company

Based in
Chicago
Sponsor
Sponsor
Type
Sponsor
Saman Farid is the founder and CEO of Formic, which puts robots into American factories on a robots-as-a-service model so manufacturers pay for output instead of capital equipment. He is a past CLIMB guest and a Dirty Jobs 2026 sponsor.
Company

Formic
Formic rents industrial robots to manufacturers for a flat hourly rate and handles installation, monitoring, and maintenance so factories avoid upfront capital costs.
Founded
2020
Raised
$52M
Stage
Series A
HQ
Bolingbrook, IL
Investors
BV
Blackhorn Ventures
LC
Lux Capital
MHC
Mitsubishi HC Capital America
N
NEC
TC
Translink Capital
IC
Initialized Capital
Investor data via Harmonic
In the News
Jun 17, 2026
Yahoo Finance
Formic Opens 53,000-Square-Foot Chicagoland Headquarters to Meet Growing Demand for Its AI-Powered Robotic Automation
Read
Mar 5, 2026
Formic
Formic Named to Lorimer Ventures' Builder List Following Record Year
Read
Aug 27, 2025
The Star
Rented robots get the worst jobs and help factories keep the humans
Read
[ DIRTY JOBS Starts in: ]
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become a sponsor
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DIRTY JOBS SUMMIT 2026
[ DIRTY JOBS Starts in: ]
23:22:49:44
[ section ]
become a sponsor
All rights reserved
DIRTY JOBS SUMMIT 2026
[ DIRTY JOBS Starts in: ]
23:22:49:44
[ section ]
become a sponsor
All rights reserved
DIRTY JOBS SUMMIT 2026