Bossa Nova Robotics raises $17.5 million in funding round
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.