Focal Systems, a San Francisco, CA-based retail automation company, closed a $25.8m Series B financing round.
The round was led by Point72 Ventures, joined by existing investors Costanoa, Zetta, and Zebra Technologies, among others.
The company will use the new funds to continue its growth and innovation with their AI-powered retail automation solutions, as well as expand its global sales and technical teams.
Led by Francois Chaubard, CEO, Focal Systems has developed a platform to help retailers automate and optimize operations to maximize cash flows through improved inventory, supply chain, and labor efficiency. Focal’s AI leverages a network of patented low-cost shelf cameras that digitize the sales floor and backroom hourly to deliver impactful operational efficiencies, availability increases, sales growth, and inventory reduction. Entering 2021, the company had 10,000 cameras deployed, and over the course of the year, that number has grown 400%, with more than 40,0000 additional cameras deployed to major retailers across the globe.
The company already has commitments to deploy an additional 200,000 cameras in 2022.