Symbotic, a robotics and automation technology platform for the supply chain, and SVF Investment Corp 3, a special purpose acquisition company sponsored by an affiliate of SoftBank Investment Advisers, have agreed a definitive merger agreement expected to make Symbotic a public company listed on Nasdaq.
Upon completion of the merger, which is expected in the first half of 2022, the combined company will operate under the “Symbotic Inc” name and will trade on Nasdaq under the ticker symbol “SYM”.
Symbotic is a product movement technology platform that is adaptable to a wide range of use cases. The company says it has “rebuilt the traditional warehouse”, using a fleet of autonomous robots with artificial intelligence-enabled software, to create a “first of its kind” physical structure that can power a customer’s entire supply chain technology platform. [Read more…] about Supply chain automation startup Symbotic valued at $5.5 billion