About
Saman Farid is the co-founder and CEO of Formic, the Chicago-based Robotics-as-a-Service company that deploys industrial robots into American factories on an hourly subscription with no upfront capex. Trained as an engineer, he built and sold two companies before spending roughly fifteen years as a venture investor, including running the global fund at Baidu Ventures and founding Comet Labs, an early-stage AI and robotics incubator. The thesis behind Formic is that the U.S. has a thirty-year robot density gap behind Asia, and that the bottleneck is integration cost rather than the robots themselves. Formic has raised more than $60 million to scale its fleet and has been recognized as a World Economic Forum Technology Pioneer.
Previous roles
- Founding Partner, Baidu Ventures
- Founder, Comet Labs
Notable work
- Formic
- industrial robotics
- automation
- manufacturing
- venture capital
- Co-founder
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