Funds for Store and Shelf Intelligence Firm Simbe

In San Francisco, retail intelligence firm Simbe has announced the closing of a $50 million Series C equity financing round which it will use to meet 'surging demand' for retail tech, expand into new product areas, recruit team members and continue global deployment of its solutions.

Simbe combines computer vision, AI and robotics to help retailers keep tabs on their stores and shelves, helping to enhance staff and shopper experience and drive more sales. Its autonomous item-scanning robot Tally (pictured) travels the store and feeds back real-time information. The firm has expanded its range of retailer partnerships this year to new chains across three continents, including Albertsons and Carrefour.

Features added this year include Simbe Brand Insights, which extends the provision of near real-time, shelf-level data to retailers' vendors, brands and manufacturers; Virtual Tour, for remote store viewing worldwide; Simbe Mobile, which puts a prioritised list of pricing and resticking tasks in the hands of store teams; and a shelf intelligence platform designed specifically for Wholesale Club environments.

The latest funding was led by Growth Equity at Goldman Sachs Alternatives, with participation from Eclipse and Valo Ventures and other existing investors; and brings to more than $100m the total raised to date.

'Retail is a cornerstone of modern society', says co-founder and CEO Brad Bogolea, 'yet physical stores remain burdened by what we call the last great data desert - knowing precisely what's happening on store shelves. In partnership with top global retailers, Simbe is building the essential system of record to power retail's operating layer'. Ben Fife, Investor, Growth Equity at Goldman Sachs Alternatives, comments: 'It's only a matter of time until we see technology like Simbe's in every retail store'.

Web site: www.simberobotics.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.