Simbe Robotics, Inc., a San Francisco, CA-based company leveraging robotics and AI to provide physical retail with insights into inventory and operations, raised $26m in Series A equity financing.
The financings include a Series A funding led by Venrock with participation from Future Shape, Valo Ventures, and Activant Capital and an inventory financing agreement with SoftBank Robotics. With the close of the Series A financing, Tony Fadell, Principal at Future Shape, iPod inventor, iPhone co-inventor and Founder of Nest; David Pakman, Partner at Venrock; and Ryan Gembala, Managing Partner at Pathbreaker Ventures will be joining Simbe’s Board of Directors.
The company intends to use the Series A funds to expand business operations including growing the team; scaling sales, marketing and customer success functions; and continued investment in R&D.
The inventory financing aims to accelerate Simbe’s global deployment of its fully autonomous retail robot, Tally. The funds will support scaled manufacturing of an additional 1,000 Tally units over the coming two years.
Led by Brad Bogolea, Co-Founder and CEO, Simbe Robotics provides automation solutions for retailers to get visibility and insight into the state of their store environments, while improving inventory and operational challenges.
Tally is a fully autonomous robot which uses both computer vision and RFID scanning technology to provide retailers and their global CPG brand partners with actionable, e-commerce-level insights into shelf data up to three times per day.
The company works with major worldwide retailers and brands across the US, Europe, Asia, and the Middle East.
To date, Simbe has deployed Tally robots in over 12 of the top 250 global retailers in the Americas, Europe, the Middle East, and Asia. Retail partners include Schnuck Markets, Giant Eagle, Decathlon Sporting Goods, Groupe Casino, and more.