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San Francisco-based service robot maker Bossa Nova announced that it has raised a US$29 million funding round led by San Francisco-based investment firm Cota Capital, and participated by China Walden Ventures, LG Electronics and others.
With the new funding round, Bossa Nova’s total funding has reached US$70 million, according to the firm’s announcement.
Bossa Nova creates service robots for the global retail industry. Its technology collects terabytes of data that enables the retail ecosystem to optimize the omni-channel shopping experience. With a multidisciplinary team of robotics, computer vision, artificial intelligence, and big data scientists, Bossa Nova has solved the challenges to deploy fully autonomous service robots in busy and crowded environments.
“Bossa Nova and its technology are transforming the retail experience,” said Bobby Yazdani, founder and managing partner at Cota Capital. “Bossa Nova is enabling retailers to rethink decades-old processes by providing a combination of sophisticated technologies. They are at the forefront with focused technical expertise, extensive market knowledge, and a world-class team.”
The funding will support headcount growth by 50% and will further research and development efforts. Additionally, the company is exploring opening international offices due to high global retailer interests.
There is no information available on China Walden Ventures. Walden International was founded by Lip-Bu Tan in 1987. Its portfolio includes Chinese robotics firms Rokid and CloudMinds.
Source: China Money Network
