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Symbotic to buy Walmart’s robotics business for up to $350 million

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Symbotic, a developer of AI-enabled robotics technology for the supply chain, has agreed to acquire Walmart’s Advanced Systems and Robotics business.

This transaction expands the long-standing relationship between Walmart and Symbotic with the aim of developing an integrated automated supply chain.

Walmart has chosen Symbotic to develop, build and deploy an advanced solution leveraging Symbotic’s AI-enabled robotics platform to offer Walmart customers greater shopping convenience through accelerated online pickup and delivery (APD) options at stores. [Read more…] about Symbotic to buy Walmart’s robotics business for up to $350 million

SoftBank and Symbotic establish new ‘warehouse-as-a-service’ joint venture

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SoftBank, the telecommunications group which has wideranging interests in robotics, and Symbotic, a developer of AI-powered automation technology for the supply chain, have established a new joint venture to address the more than $500 billion annual warehouse-as-a-service market opportunity.

The newly created company is called GreenBox Systems LLC.

Concurrently, Symbotic also announced an approximately $7.5 billion new customer contract with GreenBox, who will be the exclusive provider of Symbotic systems in the warehouse-as-a-service market, and will make supply chain services available to customers. [Read more…] about SoftBank and Symbotic establish new ‘warehouse-as-a-service’ joint venture

Associated Food Stores selects Symbotic to implement warehouse automation system

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Associated Food Stores (AFS), a provider of groceries and other goods and services to independent retailers in nine Intermountain states, and Symbotic, a developer of AI-enabled robotics technology for the supply chain, have entered into a commercial agreement to implement Symbotic’s robotic warehouse automation technology in AFS’ Utah distribution center.

Symbotic says its end-to-end automation system, with robotic case pick capabilities, will allow AFS’ distribution center to “improve a variety of retail-facing experiences”, including overall supply, expanded selection and delivery of products to stores.

David Rice, AFS’ president and CEO, says: “We appreciate the partnership with Symbotic which enables us to cast an exciting vision for future growth and long-term relevance with the shoppers and retailers we serve. [Read more…] about Associated Food Stores selects Symbotic to implement warehouse automation system

Supply chain robotics company Symbotic reports $12 billion in orders

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Symbotic, a provider of AI-enabled robotics technology for the supply chain, has released financial results for its first fiscal quarter ended December 24, 2022.

Symbotic posted revenue of $206.3 million, a net loss of $68.0 million and an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) loss of $16.3 million for the first quarter of fiscal 2023.

In the same quarter of fiscal 2022, Symbotic had revenue of $77.1 million, a net loss of $23.1 million and an adjusted EBITDA loss of $21.3 million. [Read more…] about Supply chain robotics company Symbotic reports $12 billion in orders

United Natural Foods brings in robots from Symbotic to automate warehouse

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United Natural Foods has entered into a commercial agreement to implement Symbotic’s AI-powered robotics and software automation in five of UNFI’s distribution centers over the next four years.

Under the agreement, UNFI also has an option to implement Symbotic’s warehouse automation systems in additional distribution centers.

Symbotic’s end-to-end automation system, with robotic case pick capabilities, is designed to enable UNFI to transform its distribution centers to enhance capabilities and efficiency, improve order accuracy for its customers, increase storage capacity within its facilities, and facilitate planned future growth. [Read more…] about United Natural Foods brings in robots from Symbotic to automate warehouse

Symbotic debuts on Nasdaq under ticker ‘SYM’

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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

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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

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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’

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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’