Simbe’s inventory robots secure $28 million in funding

Inventory robots are experiencing a surge in popularity and funding. Swiss company Verity recently secured $11 million, while B Garage raised $20 million for their drone inventory startup. In addition, Gather AI acquired competitor Ware, and Dexory received $19 million for their shelf-scanning robot. Simbe Robotics also announced fresh funding of $28 million, adding to their previous $26 million Series A. Simbe’s Tally robotics is unique in that it focuses on front-of-store operations, monitoring shelves for missing items. This reduces the need for human labor and store shutdowns. With the recent challenges faced by retailers, such as business closures and labor shortages, automation has become increasingly attractive. Simbe aims to enhance the retail experience by combining AI and robotics. The company’s achievements over the past year include servicing top retailers worldwide, processing billions of shelf photos, analyzing products for availability and price accuracy, and completing millions of hours of autonomous data capture operations. Simbe emphasizes the collaboration between robots, store associates, and customers. However, to avoid overreliance on a single customer, it is crucial for the company to diversify its client base. The downfall of competitor Bossa Nova Robotics serves as a reminder of the risks associated with relying heavily on one retailer.

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