Formic

Try Before You Buy Automation! Here's how it works: 📦 Collaborative and Industrial Palletizers for stacking up to 50 lbs. 💲 1 Flat Rate for 3 months, then you can opt out, RaaS, or buy it! 🛠 100% Maintenance and Service included Learn more here ➡ https://lnkd.in/eBcSM5mP

🎉 Happy 4th of July! Today marks the 248th commemoration of the day the Declaration of Independence was adopted by the Second Continental Congress. Through the centuries, the US has grown from 13 colonies with about 2.5 million people to 50 states and 14 territories with a population of more than 330 million. The economy has swelled to over $27T. Advances in public health have cut the child mortality rate from over 45% to under 1%, while our citizens live over 35 years longer on average.    Scientific achievements in the US have delivered everything from the light bulb, modern flight, and the internet to air conditioning, movies, and the polio vaccine. More than 2.7 million miles of power lines electrify the country across over 4 million miles of paved roads, with over 90% of households accessing broadband internet. The US has also been responsible for more than 800 human visits to space—the most of any country.   While there will always be challenges to face and improvements to make, we've come a long way since the beginning. So grab a hot dog and your drink of choice—here's to the next 248 years. 🍻 U.S. manufacturing, especially, has a bright future ahead.

June Manufacturing results were released yesterday and here are the highlights ⬇ - New Orders & Backlog decreased 📉 - Production & Employment contracted 📉 - Prices Increased 📈 - Raw Material Inventories decreased 📉 - Supplier Delivery Times accelerated ⏩ In summary, economic activity in the #manufacturing sector contracted for the third consecutive month and the 19th time in the last 20 months. 8 manufacturing industries reported growth in June (in order): 1. Printing & Related Support Activities 2. Petroleum & Coal Products 3. Primary Metals 4. Furniture & Related Products 5. Paper Products 6. Chemical Products 7. Miscellaneous Manufacturing 8. Nonmetallic Mineral Products. The full article and report is linked below. https://lnkd.in/dhAg8VY

🧠 According to a survey by American Bakers Association and ndp | analytics, nearly 70% of commercial bakeries and suppliers have adopted or plan to adopt #AI in their business. We've seen the same trend. 100% of our baking customers are already using AI with our Formic Colony and Formic Core stack. A couple examples: 🔧 AI-based automation monitoring reduces maintenance issues & downtime ⚙ AI-based motion planning and software speeds up #robotic deployments The results? Lower cost solutions and higher production uptime. Thanks to Baking & Snack and our CEO Saman Farid for sharing these insights!

⛳ Minnesota Makers (Manufacturers) Golf Scramble! We're excited for our summer scramble event with local manufacturers of coffee, chemicals, printed signage, and everything in between. If you're a maker in the Minneapolis-St. Paul area and want to join us, other manufacturers, and technology leaders like Doosan Robotics, you can learn more and register here ➡ https://lnkd.in/dERFpM89 All skill levels are welcome!

🚨 Most factories run less than 3,000 production hours per year. That's only 35% utilization. While manufacturers strive to increase utilization and efficiency, there are a couple big constraints: 👷♂️ Manual Labor (hard to find and 30% turnover per month) 💰 Insufficient Budget for automation, technology, and skilled workers Low utilization is rarely tied to low demand, especially with fast-moving consumer goods. The challenge is actually the supply chain and production line. In the episode below of The Manufacturing Executive with Joe Sullivan and Saman Farid, they discuss the productivity challenges and how Robots-as-a-Service is the only outcome-based approach that addresses all barriers. ⬇ Find a link to the full conversation in the comment section below.

Exciting news! We’ve increased our Series A financing to $53.9M! On the heels of recently surpassing 100,000 fleet production hours and more than 1.2 billion products packed and stacked by our Robots-as-a-Service automation equipment, this additional round adds $27.4M in financing to continue scaling the easiest and most reliable way for US manufacturers to deploy automation and unlock greater production capacity across the supply chain. The new investments from Blackhorn Ventures, Mitsubishi HC Capital America, Inc., NEC and Translink Orchestrating Future Fund, Alumni Ventures, FJ Labs, and additional investments from Lux Capital, Initialized Capital, and Lorimer Ventures allow us to double down on our strategy to bring more Pay-for-Productivity automation to US manufacturers by:  - Expanding our fleet of standardized automation solutions - Increasing our network of support and service people across the U.S. - Enhancing our equipment-agnostic software offering that includes AI-based motion planning, predictive maintenance, system design suite, and more intuitive customer interfaces and dashboards A huge thank you to everyone who has been a part of this journey. This milestone is a testament to the dedication, innovation, and hard work of our incredible team, as well as the trust and support of our customers and investors. Stay tuned for more updates and announcements as we embark on this next phase of our adventure! #SeriesA #Funding #Innovation #Tech #Growth #Automation #Robotics #Formic https://lnkd.in/d5pShmRV

One of the biggest challenges in manufacturing and food production... Supply Chain Resilience Tune in to our Engine Room show and Episode #6 with David Gray, CEO of FedUp Foods to hear more insights and advice. 🎧 Available on YouTube, Spotify, and Apple Podcast apps. #foodandbev #production #manufacturing #supplychain #podcast

Another U.S. Manufacturer Going from 0 to 5 Robots at Lightning Speed⚡ (and with $0 investment) Congrats to Cameron's Coffee and Distribution on their exciting growth and continued legacy of roasting delicious coffee for all. ☕ s/o to our partners: Doosan Robotics & beRobox https://lnkd.in/eepFgnfi

Introduce your company to robotics with zero long-term commitment! Unlimited robotic palletizing for 3 months for $4,750/month. (Programming, maintenance, and service included)