Simbe Expands into Farm Supply Sector
Since introducing its autonomous item scanning robot, Tally, Simbe has refined, expanded, and scaled its platform to power automated shelf intelligence.
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US retailer Country Supplier is expanding its use of Simbe technology chain wide at all C-A-L Ranch stores and Coastal Farm & Ranch stores in six states. The deployment marks Simbe’s expansion into a new sector, farm supply.
Country Supplier’s decision follows a proof of value with the company, which had the following results: 25% improved on-shelf availability; 90% improved price accuracy; two weeks’ work dedicated from manually scanning 100K+ products.
In a LinkedIn post, Simbe said, “Country Supplier joins retail champions across many sectors and sizes who enhance the associate and shopper experience by automating manual, labour intensive inventory tasks with in-store intelligence. It is playing to win, and nothing speaks louder than customer success! We’re so proud to power the most retail banners in the world.”
Simbe recently closed a $50 million Series C equity financing round led by Growth Equity at Goldman Sachs Alternatives, with participation from Eclipse and Valo Ventures and other existing investors.
Since raising its Series B in July 2023, it has achieved milestones such as introducing multiple capabilities and securing numerous new and expanded partnerships across various retail sectors.
The new capital, which brings the total amount raised to over $100 million, will be used to meet demand across retail verticals, expand into new product areas, and continue scaling its solutions to retailers and brands around the world.
Since introducing its autonomous item scanning robot, Tally, Simbe has refined, expanded, and scaled its platform to power automated shelf intelligence.
“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,” said Brad Bogolea, Simbe’s Co-Founder and Chief Executive Officer.
“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. Simbe’s technology will power every store, improving the experience for every retailer, brand, employee and shopper.”
“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,” said Ben Fife, Investor, Growth Equity at Goldman Sachs Alternatives.
“We proactively led Simbe’s $50 million round because we recognise their distinct ability to steer retail transformation and meet surging demand for AI and robotics. It’s only a matter of time until we see technology like Simbe’s in every retail store.”
