Home industry retail simbe rakes in $26 million in Series A funding round

Simbe rakes in $26 million in Series A funding round

Retail

CIO Bulletin
2019-09-13

A San Francisco-based robotics startup Simbe has announced that it has raised $26 million in its Series A round of funding. Venrock led the round. The round further saw participation from Valo Ventures and Activant Capital.

Simbe is a promising startup that is looking to automate the process of providing retail inventory through the usage of robotics. The funding will help the company acquire more talent to increase its headcount and explore new markets.

The robotics company will also welcome Tony Fadell from Nest, David Pakman from Venrock and Ryan Gembala from Pathbreaker Venture to their board.

Brad Bogolea, co-founder and CEO of Simbe said: “Both our equity financing partners and the SoftBank Robotics team are deeply aligned with Simbe’s vision to revitalize physical retail through data. We are at a pivotal time of growth and value their support as we continue to transform retail at a global scale.”

Simbe’s robots have found their way to more than 12 of the top 250 global retailers in North America, South America, Europe, Asia and the Middle East. Their partners include the likes of Decathlon Sporting Goods, Schnuk Markets, and Groupe Casino.