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Tech’s Mechs: Retail Robots Are Becoming a Thing

Tech’s Mechs: Retail Robots Are Becoming a Thing

Tech’s Mechs: Retail Robots Are Becoming a Thing
June 22
00:48 2018
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San Francisco-based robotics firm Bossa Nova said Thursday that it has raised $29 million in its latest funding round, adding another mile marker for the advent of robo retail.
“The global retail industry is at a critical inflection point,” said Bruce McWilliams, Bossa Nova’s president and chief executive officer. “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 round, led by Cota Capital, brings the company’s total amount raised to $70 million and puts new investors on deck, including China Walden Ventures and LG Electronics, the South Korean technology giant.
The investor line-up is not entirely surprising. And tech-forward Asian markets have already embraced the notion of retail robots, and not just for logistics or warehouse applications.
JD.com chief executive Richard Liu told retail executives at the annual World Retail Congress in Madrid this spring that he expects robots will eventually replace human retail workers: “Sooner or later, our entire industry will be operated by AI [artificial intelligence] and robots, not humans.” JD.com, China’s second-largest e-commerce operation, deeply invests in new-era technologies like robotics, automation and drones.
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