Bossa Nova Robotics raised $29 million in new venture funding from Cota Capital, China Walden Ventures and LG Electronics. This latest round of funding brings the company’s total funding to $70 million. Bossa Nova, the company which makes the shelf-scanning robots, is rolling around in few Walmart stores as part of their ongoing trial program. Walmart stores use Bossa Nova robots, which roam the passages and scan shelves in real-time, to figure out what’s in stock and what’s selling well. The company has been aggressive in creating a multi-disciplinary robotics platform and has been formed a strategic partnership with Flex in order to help the start-up to manufacture a higher volume of robots. The funding will be used to support focus on software improvements, global expansion, providing customers more data-driven insights, and explore opportunities like the deployment of robots in other grocery stores.
Bruce McWilliams, Bossa Nova president, and CEO said “The present retail powerhouses require accurate, real-time product data to make a consistent omnichannel shopping experience expected by all customers. Bossa Nova’s innovation gives retailers an information-rich and dynamic foundation to change their store tasks.”
Bossa Nova robots are equipped with robust onboard AI and data analytics skills, the robots are big data mining machines with real-time processing. Bossa Nova’s robots boast state of the art computer vision and autonomous guidance technology in the U.S. With up-to-minute information about how products are performing within stores and across locations, Bossa Nova robots help major retailers build predictive inventory models that reduce stale stock keeping units (SKUs) and keep prices competitive. The robots explore stores without interfering with human customers, which makes these robots among the first publicly deployed autonomous vehicles in the U.S.
– Pradeep Singh,
Sr. Research Analyst,
Infoholic Research LLP