Simbe Robotics Secures $28 Million

<p align&equals;"left"><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; <u>Simbe Robotics&comma;<&sol;u> a company leveraging AI and robotics to elevate the performance of retailers with real-time insights into inventory and operations&comma; has secured a Series B financing round of &dollar;28 million&comma; led by venture capital firm <u>Eclipse<&sol;u>&period;<&sol;p>&NewLine;<p align&equals;"left">Simbe has now raised &dollar;54 million to date&period;<&sol;p>&NewLine;<p align&equals;"left">&OpenCurlyDoubleQuote;We&&num;8217&semi;re honored to be supported by an investor like Eclipse&comma; with a team that recognizes technology&&num;8217&semi;s incredible potential to significantly enhance retail operations&comma; as well as greatly improve the customer experience&comma;” said Brad Bogolea&comma; CEO and co-founder of Simbe&period; &OpenCurlyDoubleQuote;Elevating the retail experience for everyone — retailers&comma; their associates&comma; and customers — through AI and robotics is the foundation of Simbe’s mission&comma; and this funding will enable us to share this vision and reimagined experience with more retail partners around the world&period;”<&sol;p>&NewLine;<p>Simbe is a developer of retail automation solutions&comma; combining cutting-edge AI and robotics in a single platform that allows retailers to protect profitability and enhance business operations&period; The company’s comprehensive business intelligence solution is powered by <u>Tally<&sol;u>&comma; the world&&num;8217&semi;s first fully autonomous in-store product auditing solution that traverses aisles to generate exact product location data and identify out-of-stock&comma; misplaced&comma; or mispriced products at more than 99&percnt; accuracy&period; The platform transforms retail operations through proprietary AI&comma; computer vision&comma; RFID&comma; and edge computing technology that delivers greater visibility&comma; more accurate data&comma; and real-time insights — creating a better experience for shoppers and store teams alike&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;As today’s retailers grapple with inaccurate shelf data and antiquated inventory management processes&comma; Simbe is completely revolutionizing the industry through AI and robotics — proving to be an invaluable solution that curbs these obstacles&comma;” said Jay Knafel&comma; Partner at Eclipse&period; &OpenCurlyDoubleQuote;One of the most challenging aspects of full-stack systems is engineering a solution that works&period; Not some of the time&comma; but all the time&comma; in every customer environment&period; When we saw Simbe’s solution deployed across the country&comma; in a range of store environments&comma; and performing fully autonomously&comma; we were impressed&period; Simbe has also designed the most consumer-friendly&comma; compact robot of its kind that fits into any store and with any team&comma; and deploys in hours&period; Simbe’s platform and its volume of data are transforming retail&comma; and we could not be more thrilled to support Brad and his team&period;”<&sol;p>&NewLine;<p>In 2023&comma; Simbe developed new capabilities specifically tailored to the warehouse club format to prepare Tally for chainwide deployment across BJ’s Wholesale Club locations&period; In addition to partnering with BJ’s Wholesale&comma; Simbe has signed new agreements and expansions with leading retailers&comma; such as Schnuck Markets&comma; SpartanNash&comma; Wakefern&comma; Carrefour&comma; and more&period;<&sol;p>&NewLine;