Retail Robotics startup Bossa Nova Robotics Inc. announced today that it has closed a $17.5 million Series B round.
The funds will help to scale up production, infrastructure, staff and make further inroads into brick-and-mortar retail.
Robots have become a regular staple of warehouses, but Bossa Nova’s robots are stationed in stores. Bossa Nova's specializes in creating robots that can handle one of the most mundane and manual tasks in retail – stacking the shelves.
The company’s robots drive autonomously through store aisles analyzing stock levels on shelves as well as ensuring the prices are correctly marked and shelves are properly labeled.
The robots are fitted with cameras and other sensors that simply collect data in the store then relays it to store management, who can then dispatch people as needed to take care of reshelving, relabeling, etc.
This is a critical problem to solve as retailers look to create a seamless omnichannel retail experience, which relies on accurate inventory information
“Bossa Nova’s robots data provide valuable, real-time insights that help retailers fully understand what’s happening on store shelves and how to improve the in-store customer experience,” Michael Marks, a partner at Paxion, told TechCrunch.
The Retail Robotics company has been testing its robots in the retail field since 2013. Its most prominent customer Walmart expanded its use of Bossa Nova's robots to 50 stores recently.
The company currently has 80 employees, which it wants to increase by 50%, and has offices in both San Francisco and Pittsburgh.