San Francisco-based retail robotics company Bossa Nova Robotics has secured $29mn in funding to further enhance its technology.
The funding round was led by Cota Capital and included the participation of China Walden Ventures, LG Electronics and a number of existing investors in the company.
The company providers real-time on-shelf product data for retail companies globally, automating the collection and analysis of data across large-scale stores.
In turn, this allows retailers to enhance their operational efficiencies and improve productivity levels by making informed inventory decisions, whilst simultaneously improving customer experience.
“Today’s retail powerhouses require accurate, real-time product information to create a seamless omnichannel shopping experience expected by all customers,” said Bruce McWilliams, President and CEO of Bossa Nova.
“Bossa Nova’s technology gives retailers a data-rich and dynamic foundation to transform their store operations.”
The company’s automated technology is currently being used by Walmart across 50 stores in the US, considered to be the largest deployment of its kind globally.
“Bossa Nova is enabling retailers to rethink decades-old processes by providing a combination of sophisticated technologies,” said Bobby Yazdani, founder and managing partner at Cota Capital.
“They are at the forefront with focused technical expertise, extensive market knowledge, and a world-class team.”
The investment will be used to grow Bossa Nova’s employ base by 50%, whilst also contributing to continued research and development efforts.