Simbe Robotics, a company specializing in inventory robots, has secured $28 million in funding in its latest round, led by Eclipse. This funding comes after a $26 million Series A round in late 2019, bringing the company’s total funding to $54 million. Simbe’s robots, known as Tally, are designed to operate in the front of stores, monitoring shelves for missing items and potential theft.
Unlike other inventory robot companies, Simbe focuses on front-of-store operations. Tally is capable of dynamically scanning shelves and reducing the time they remain empty. This is particularly beneficial for retailers who have faced challenges due to closures, supply chain concerns, and labor shortages in recent years. By automating these tasks, Simbe aims to enhance the retail experience for both retailers and customers.
Simbe’s CEO, Brad Bogolea, expressed excitement about the funding, stating that it will allow the company to share its vision and reimagined retail experience with more partners worldwide. Simbe’s emphasis on the human element of their robots aims to address concerns about job automation. Additionally, diversifying their customer base will help safeguard against setbacks experienced by competitors like Bossa Nova Robotics, which lost a contract with Walmart in late 2020.
Inventory robots have been receiving significant attention and funding recently. Verity, a Swiss firm, recently raised $11 million, while B Garage secured $20 million in funding for their drone inventory startup. Gather AI also made headlines by acquiring competitor Ware, and Dexory announced $19 million for their shelf-scanning robot. These developments demonstrate the growing interest in automating inventory management tasks and improving overall efficiency in the retail industry.
Simbe’s Tally robots have already been adopted by BJ’s Wholesale Club, with plans to roll them out nationwide. The robots’ ability to monitor shelves, identify missing items, and improve restocking processes is a significant advantage for retailers. Moreover, their presence in stores can generate positive publicity and enhance the overall shopping experience for customers.
With the latest funding, Simbe Robotics is well-positioned to expand its operations and bring its innovative inventory solutions to more retailers globally. By leveraging AI and robotics, Simbe hopes to revolutionize the retail experience, benefiting both retailers and their customers.
