Simbe Robotics Raises $50 Million in Series

Simbe Robotics Raises $50 Million in Series C - October 24, 2024

Executive Summary

Simbe Robotics creates autonomous inventory robots for retail, with its flagship product Tally providing real-time stock monitoring, pricing accuracy, and promotional compliance through advanced computer vision.

Funding Amount: $50 Million

Valuation: Undisclosed

Round Type: Series C

Announced: October 24, 2024

Headquarters: San Francisco, California

Category: Retail Tech - Inventory Automation

About Simbe Robotics

Simbe Robotics was founded in 2014 and is headquartered in San Francisco, California.

Funding Round Details

Investment Amount

Simbe Robotics successfully raised $50 Million in this Series C funding round.

Lead Investors & Participants

Growth Equity at Goldman Sachs Alternatives (Lead Investor): Goldman Sachs' growth equity platform leading the Series C

Eclipse (Investor): Venture capital firm participating in the round

Valo Ventures (Investor): Venture capital firm supporting the Series C

Use of Funds

The $50 million Series C (bringing total funding to $100+ million) will meet surging demand for retail technology across verticals, expand into new product areas beyond Tally, scale best-in-class solutions to retailers and brands globally, and grow the team which has already doubled in the past year.

Key Metrics & Achievements

Total funding: $100+ million
Partnerships with 29 retail brands
Over 50% of partners moved from pilot to full contracts
Major clients: Albertsons, BJ's Wholesale, Schnuck Markets, CarrefourSA
New 2024 partners: SpartanNash, Wakefern Food Corp., Northeast Grocery
Team size doubled in past year
Tally is the world's first autonomous item-scanning robot

Business Model

Simbe operates a robots-as-a-service (RaaS) model, deploying Tally robots in retail stores under subscription agreements. Tally autonomously scans shelves multiple times daily, providing real-time data on stock levels, pricing accuracy, and promotion compliance. Retailers pay monthly/annual fees per robot, with additional revenue from data analytics and insights platforms.

Market Opportunity & Competition

Simbe competes in retail automation with companies like Bossa Nova Robotics (defunct), Badger Technologies (Jabil), and shelf-scanning solutions from Trax and Focal Systems. Simbe leads the market with proven deployments across major retailers, superior computer vision accuracy, and expansion beyond grocery into wholesale and other verticals.

This fundraising report was announced on October 24, 2024 and represents verified data from Crunchbase, Bloomberg, TechCrunch, The Robot Report, and official company announcements.