Bossa Nova Ro­bot­ics raises $17.5 mil­lion in fund­ing round

Pittsburgh Post-Gazette - - Business -

Fol­low­ing a Wal­mart pi­lot de­ploy­ing shelf-scan­ning ro­bots to 50 re­tail lo­ca­tions, Bossa Nova Ro­bot­ics raised $17.5 mil­lion in a Se­ries B fi­nanc­ing round, bring­ing to­tal fund­ing to $41.7 mil­lion since 2015. The com­pany — based in Pitts­burgh’s Strip District and San Fran­cisco — cre­ates ro­bots that move au­tonomously through stores, scan­ning shelves to de­ter­mine if an item is out of stock or priced in­cor­rectly. Pax­ion Cap­i­tal Part­ners, an in­vest­ment firm in Menlo Park, Calif., led the fund­ing round. The firm is headed by Michael Marks, for­mer CEO and chair­man of Flex­tron­ics, a pub­licly traded sup­ply chain man­u­fac­turer for high-tech equip­ment and hard­ware. Mr. Marks served as in­terim CEO for Tesla from Au­gust to De­cem­ber 2007. He will join Bossa Nova’s board of di­rec­tors. In­tel Cap­i­tal, WRV Cap­i­tal, Lu­cas Ven­ture Group and Cota Cap­i­tal also con­trib­uted to the round.

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