Simbe, a San Francisco, CA-based company leveraging AI and robotics to automate processes for retailers, raised $28M in Series B funding.
The round, which brought the total amount to $54M, was led by Eclipse.
The company intends to use the funds to expand operations and its business reach.
Led by Brad Bogolea, CEO, Simbe Robotics specializes in automation solutions that give retailers visibility and insight into the state of their store environments, while improving inventory and operational challenges. Its business intelligence solution is empowered by Tally, an autonomous in-store product auditing solution that traverses aisles to generate exact product location data and identify out-of-stock, misplaced, or mispriced products accurately.
In 2020, Simbe introduced Tally 3.0, the latest iteration of Tally and the most advanced autonomous inventory robot on the market. Advancements in camera systems, data capture, 2D and 3D imaging, and more have led to more refined machine learning and AI models that deliver higher quality data and deeper insights into store environments.
In 2023, the company developed new capabilities specifically tailored to the warehouse club format to prepare Tally for chainwide deployment across BJ’s Wholesale Club locations, further validating that Simbe’s solution can integrate into any retail environment.
In addition to partnering with BJ’s Wholesale, Simbe has signed new agreements and expansions with leading retailers, such as Schnuck Markets, SpartanNash, Wakefern, Carrefour, and more. The company has also expanded its leadership team, bringing on a number of industry veterans to serve in key roles, including Chief Operating Officer and Senior Vice President of Sales.
The privately held company works with worldwide retailers and brands across the US, Europe and Asia.
FinSMEs
13/07/2023