The company, who bills itself as the leading provider of real-time, on-shelf product data for the global retail industry, says the funding will support headcount growth by 50% and will further its R&D efforts. In addition, says the company, it is exploring opening international offices due to high global retailer interest.
The company's technology and services automate the collection and analysis of on-shelf inventory data in large-scale stores, enabling retailers to make real-time, informed inventory decisions and take rapid action. Bossa Nova's robots are currently deployed in 50 Walmart stores across the United States, making it the largest deployment of this kind of technology in any retailer, the company says.
"The global retail industry is at a critical inflection point," says Bruce McWilliams, president and chief executive officer at Bossa Nova. "Today's retail powerhouses require accurate, real-time product information to create a seamless omnichannel shopping experience expected by all customers. Bossa Nova’s technology gives retailers a data-rich and dynamic foundation to transform their store operations."
The funding round was led by Cota Capital. With new participation from China Walden Ventures, LG Electronics, and existing investors, this brings Bossa Nova's total funding to $70 million.
Along with the funding announcement, the company also announced a new manufacturing partnership with Flex, the Sketch-to-Scale solutions provider that designs and builds intelligent products for a connected world. This partnership, says Bossa Nova, enables it to expand production and meet growing customer demand.
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