Simbe raises a $26M Series A for its retail inventory robot

Simbe raises a $26M Series A for its retail inventory robot

//
2 mins read

San Francisco-based robotics startup Simbe just announced a $26 million A. The round was led by Venrock and features Future Shape, Valo Ventures and Activant Capital. The company is one of several looking to automate the process of providing retail inventory.

Simbe says the funding will go toward growing its headcount, exploring new markets and accelerating the deployment oof its existing robots. The also finds Nest’s Tony Fadell, Venrock’s David Pakman and Pathbreaker Venture’s Ryan Gembala joining the startup’s board.

Simbe Data Analytics Corporate

“Our investors, both previous and new, provide much more than financial support. They are advocates and trusted advisors who bring invaluable institutional knowledge to all facets of our business,” cofounder and CEO Brad Bogolea said in a release. “Both our equity financing partners and the SoftBank Robotics team are deeply aligned with Simbe’s vision to revitalize physical retail through data. We are at a pivotal time of growth and value their support as we continue to transform retail at a global scale.”

Simbe has been showcasing its inventory robot Tally since 2015. Soon after Lemnos made an investment in the company. Earlier this year, U.S. supermarket chain Giant Eagle announced plans to begin a pilot program, deploying Tally in select stores. That announcement came a week or so after Walmart announced its own plan to pilot robots from Pittsburgh-based competitor, Bossa Nova.

Simbe Data Analytics Employee

Other retailers using Simbe robots include Schnuck Markets,Decathlon Sporting Goods and Groupe Casino. Along with the Series A, Softbank Robotics is also providing an inventory financing agreement to help scale manufacturing for the company.

Read More

SmartDrive snaps up $90M for in-truck video telematics solutions for safety and fuel efficiency
Previous Story

SmartDrive snaps up $90M for in-truck video telematics solutions for safety and fuel efficiency

Hudson’s Bay Co losses widen on lower sales, heavy discounts
Next Story

Hudson’s Bay Co losses widen on lower sales, heavy discounts

Latest from raises