Robotics & Automation News

Market trends and business perspectives

symbotic

Symbotic debuts on Nasdaq under ticker ‘SYM’

by Leave a Comment

Symbotic, a developer of AI-enabled robotics automation technology, says that shares of its Class A common stock are now trading on the Nasdaq Stock Market under the ticker symbol “SYM”.

Symbotic’s trading debut comes after the completion of its business combination with SVF Investment, a special purpose acquisition company sponsored by an affiliate of SoftBank Investment Advisers. The combined company now operates as Symbotic.

Symbotic is at the forefront of an addressable market opportunity valued at over $350 billion to reinvent warehouse automation and reshape the global supply chain. [Read more…] about Symbotic debuts on Nasdaq under ticker ‘SYM’

Walmart and Symbotic expand partnership to implement automation system

by Leave a Comment

Symbotic, an AI-powered supply chain technology company, and Walmart have expanded their commercial agreement to implement Symbotic’s robotics and software automation platform in all 42 of Walmart’s regional distribution centers over the coming years.

This is an expansion of Walmart’s prior commitment to deploy Symbotic Systems in 25 regional distribution centers.

The end-to-end software-enabled high-density robotics platform plays a strategic role in supporting the retailer’s goal of modernizing its vast supply chain network and allows Walmart to transform its regional distribution centers to provide faster responsiveness to store orders, increased inventory accuracy and higher capacity for receiving and shipping freight to stores. [Read more…] about Walmart and Symbotic expand partnership to implement automation system

Supply chain automation startup Symbotic valued at $5.5 billion

by Leave a Comment

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

Walmart teams up with Symbotic to implement ‘industry-leading supply chain automation system’

by Leave a Comment

Symbotic, a supply chain robotics and automation company, and retail giant Walmart are partnering to “reimagine the retailer’s regional distribution network”.

Symbotic first implemented its system in Walmart’s Brooksville, Florida distribution center in 2017. Since that time, the companies have worked together to optimize the system.

Today, Symbotic will begin the process of outfitting 25 additional regional distribution centers with the high-tech system aimed at furthering Walmart’s mission of operating a best-in-class supply chain. [Read more…] about Walmart teams up with Symbotic to implement ‘industry-leading supply chain automation system’