For Retail Industry, Simbe Robotics Receives $28 Million Investment

Simbe Robotics announced new funding this week. The $28 million Series B led by Eclipse follows a $26 million Series A in late 2019. This brings its total funding to $54 million. Simbe Robotics was founded in 2014 by Brad Bogolea and Jeff Gee. It also develops robots for inventory management. Robotics, stock and inventory management are widely used in the retail sector. Investors are also investing in various companies working in this field.

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Simbe Robotics

Tally, the stock robot, was developed by Simbe Robotics. Tally is designed to keep an eye on shelves, watching for missing items that may have been replaced or stolen. This is a job that traditionally involves hours of human labor. It's also for shelves that are a little lower than one would usually find in a warehouse. So by allowing branded robots to navigate up and down the aisles with customers, it gives retailers a good PR.

On the other hand, allowing a robot to move around the store allows tasks to be performed in a more dynamic way. It can also limit the time a shelf is empty. These current problems have, naturally, only been accelerated by the events of the last few years. First there were closures for non-essential businesses. Then there were supply chain concerns and labor shortages. There is no doubt that retailers are increasingly interested in automating such tasks. Brad Bogolea, co-founder and CEO of Simbe, explained. "Elevating the retail experience for everyone - retailers, their partners and customers - through AI and robotics is core to Simbe's mission. This financing will enable us to share it." Simbe Robotics also highlighted the following metrics from last year.