Store automation and ‘Store Intelligence’ solutions provider Simbe has closed a US$50m Series C equity financing round led by Goldman Sachs Alternatives (Goldman Sachs).
The funding was supported by Eclipse and Valo Ventures as well as existing investors.
Since raising its Series B in 2023, Simbe has achieved significant momentum including introducing multiple capabilities and securing new partnerships across the retail space.
The new capital, which brings the total amount raised by Simbe to more than $100 million, will be used to meet the surging demand for retail technology across retail verticals, expand into new product areas, and continue scaling its solutions to retailers and brands around the world.
Since the company introduced its autonomous item-scanning Tally robot, it has refined and scaled its platform to power autonomous shelf intelligence for the largest number of retail banners in the world.
This year, the company announced new and expanded partnerships with major retailers and their banners, including SpartanNash (Family Fare, Martin’s Super Markets, D&W Fresh Market, VG’s Grocery), Wakefern Food Corp. (ShopRite), Northeast Grocery (Market 32, Price Chopper Supermarkets, Tops Friendly Markets), Albertsons Companies (Market Street, United Supermarkets, Albertsons Market), and CarrefourSA, while continuing to strengthen existing partnerships with BJ’s Wholesale Club, Schnuck Markets, and multiple Fortune 500 retailers are yet to be formally announced.
Brad Bogolea, Simbe’s co-founder and CEO, said: “Retail is a cornerstone of modern society, 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.
“Goldman Sachs is renowned for supporting and scaling enterprise technology and automation companies, and this new capital underscores our vision to transform retail with true in-store visibility.”
Ben Fife, investor, growth equity at Goldman Sachs Alternatives, added: “Retail automation is a rapidly growing sector, and Simbe is well-positioned to capitalise on the enormous market opportunity due to its strong track record with top global retailers, underscoring its proven impact at scale and strong capabilities.”
Innovations and achievements in robotics in retail will be highlighted and celebrated at the second annual Robotics & Automation Awards on 06 November 2024 at De Vere Grand Connaught Rooms in London. Visit www.roboticsandautomationawards.co.uk to learn more about this unmissable industry event – and to book your table!
