Fenwick & West represented Simbe Robotics Inc., a company leveraging robotics and AI to provide physical retail with insights into inventory and operations, in its Series A equity financing led by Venrock with participation from Future Shape, Valo Ventures and Activant Capital. Simbe raised $26 million, in the aggregate, in its Series A financing and an inventory financing agreement with SoftBank Robotics.
Simbe Robotics will leverage this unique blend of equity and inventory financing to build on the momentum and significant growth the company has experienced to date. This includes a focus on growing its team, expanding its fleet of Tally robots into new markets, accelerating its deployments with existing partners, and unlocking more value in-store with new capabilities, furthering Simbe Robotics’ mission of revitalizing brick-and-mortar retail with e-commerce level insight. More information about the deal can be obtained from Simbe Robotics’ announcement.
The Fenwick transaction team included corporate partner Michael Brown and associates Patrick Grilli and Myles Gutenkunst.