Focal Systems, a San Francisco, CA-based industry leader in retail automation, closed a $25.8 million Series B financing round, led by Point72 Ventures and joined by existing investors Costanoa, Zetta, and Zebra Technologies, among others.
The company will use the new funds to continue its rapid pace of growth and innovation with its AI-powered retail automation solutions, as well as expand its global sales and technical teams.
Company: Focal Systems Inc.
Raised: $25.8M
Round: Series B
Funding Month: December 2021
Lead Investors: Point72 Ventures
Additional Investors: Costanoa, Zetta, and Zebra Technologies
Company Website: https://focal.systems/
Software Category: AI-powered retail automation solutions
About the Company: Founded in 2015, Focal Systems, the industry leader in retail automation solutions, Focal Systems is rolling out with the largest retailers in the world, including Walmart, to rip and replace legacy Sales-based Perpetual Inventory (PI) systems with a first of its kind, real-time, accurate, and low-cost Computer Vision-based PI system that digitizes and transforms stores. Focal's AI leverages a network of patented low-cost shelf cameras that digitize the sales floor and backroom hourly to deliver impactful operational efficiencies, availability increases, sales growth, and inventory reduction. Entering 2021, Focal Systems had 10,000 cameras deployed, and for the year, that number has grown 400%, with more than 40,0000 additional cameras deployed to major retailers across the globe. The company already has commitments to deploy an additional 200,000 cameras in 2022.
Source: https://www.prnewswire.com/news-releases/focal-systems-raises-25-8m-in-series-b-funding-to-automate-retail-globally-301450812.html