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Simbe Robotics Scores $26 Million For Its Retail Inventory Robot

Tally Robot

Tally ho! Simbe Robotics, the maker of the Tally inventory robot for retailers has announced today that it has raised $26 million in Series A round of equity funding.

This, to go alongside substantial inventory financing agreement from SoftBank Robotics.

Simbe is one of the several companies that are in the business of automating the process of providing retail inventory. It has been showcasing its inventory robot Tally since 2015. These not only save storeowners invaluable time, but could also cut down on billions in lost revenue traced to errors.

Watch it in action:

Simbe plans to put this funding towards growing its headcount, exploring new markets, as well as accelerating the deployment of its existing robots.

Simbe Robotics Logo

Cofounder and CEO Brad Bogolea said in a prepared statement:

“Our investors, both previous and new, provide much more than financial support. They are advocates and trusted advisors who bring invaluable institutional knowledge to all facets of our business. 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.”

The Tally robots have completed more than 100,000 hours of autonomous operations, navigating more than 25,000 miles in-store alongside employees and customers, captured 500 million shelf photos, analyzing more than 1 billion products and shelf tags.

Furthermore, these robots have been deployed in over 12 of the top 250 global retailers in the Americas, Europe, the Middle East, and Asia.

Check out Simbe Robotics here.

Written by Fahad Ali

Fahad Ali is a professional freelancer, specializing in technology, web design and development and enterprise applications. He is the primary contributor to this website. When he is not typing away on his keyboard, he is relaxing to some soft jazz.

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