Bossa Nova raises new capital to continue market expansion
June 21, 2018
Bossa Nova announced that they have secured a $29M venture round of funding, bringing their total funding to date to $69.6M. This round includes investors: Intel Capital, Cota Capital, Walden Riverwood Ventures, Lucas Venture Group, LG, and PacVen Walden Ventures.
Bossa Nova is innovating in the retail space with a mobile inventory solution which navigates a physical store to inventory product on the store shelves. The Bossa Nova solution use machine vision and artificial intelligence to take images of the store shelves and identify where each product is located in the store. In the imaging platform is maneuvered around the store aisles on the back of an autonomous mobile robot.
With the data collected by the system, products can be inventoried to check for stock outs or low inventory. As a result, the store inventory management system can automatically schedule stocking clerks to replenish inventory on the shelves, or order new inventory from a distribution center.
In addition, the store planogram can also be remotely verified to help product manufacturers ensure that product is located on the appropriate shelving. Prior to the Bossa Nova solution, planograms had to be manually verified by manufacturer representatives who would drive all over the city to check each individual store.
The Bossa Nova robots use SLAM navigation methodologies to safely operate around the store staff and the public. The vehicles can operate in the store continuously throughout the day, and can replan a route through the store if an aisle is blocked with shoppers or pallets of products for restocking.
Walmart has announced that they have deployed Bossa Nova robots in stores throughout the US.
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