Symbotic
{{Short description|American warehouse automation company}}
{{Infobox company
| name = Symbotic Inc.
| logo = SymboticLogo.jpg
| type = Public
| traded_as = {{Nasdaq|SYM}} (Class A)
| founded = {{Start date and age|2007}}
| hq_location = {{nowrap|Wilmington, Massachusetts, U.S.}}
| key_people = Richard B. Cohen (Chairman & CEO)
| industry = {{ubl|Robotics|Logistics automation}}
| products =
| num_employees = 1,300 (September 30, 2023)
| website = {{URL|https://symbotic.com}}
}}
Symbotic Inc. is an American robotics warehouse automation company based in Wilmington, Massachusetts.
The company builds and operates automated warehouse systems for clients in the United States and Canada, using artificial intelligence in its software. The software is used by 1,400 stores, with customers in the grocery, retail and wholesale industries, including C&S Wholesale Grocers, Albertsons, Giant Tiger, Target, and Walmart.{{cite web | url =https://www.thestreet.com/investing/walmart-backed-symbotic-will-ipo-via-softbank-spac-for-5-billion| title =Walmart-Backed Symbotic Will IPO Via SoftBank SPAC For $5.5B| date = December 13, 2021| publisher =The Street}}
History
The company was founded in 2007 as CasePick Systems. In January 2012, the company was renamed Symbotic.{{cite web | url =https://www.bizjournals.com/boston/blog/mass-high-tech/2012/02/casepick-relaunches-as-symbotic.html| title =CasePick relaunches as Symbotic| date = February 1, 2012| publisher =Boston Business Journal}}
In 2014, Target adopted Symbotic's technology rather than building a new distribution center in Woodland, California.{{cite web | url =https://www.wsj.com/articles/fully-autonomous-robots-the-warehouse-workers-of-the-near-future-1474383024| title =Fully Autonomous Robots: The Warehouse Workers of the Near Future| date = September 20, 2016| publisher =Wall Street Journal}}
In 2017, Symbotic began working with Walmart at their distribution center in Brooksville, Florida, where the company's automated technology was deployed to sort, store, retrieve and pack freight onto pallets.{{cite web | url =https://techcrunch.com/2021/07/13/walmart-will-be-bringing-symbotic-robots-to-25-distribution-centers/| title =Walmart will be bringing Symbotic robots to 25 distribution centers| date=July 14, 2021| publisher =TechCrunch}} In the same year, the company also began working with Albertsons.{{cite web | url =https://www.forbes.com/sites/amyfeldman/2021/12/13/meet-the-billionaire-robot-overload-reinventing-walmarts-warehouses/?sh=5ed854a878f4| title =Meet The Billionaire Robot Overlord Reinventing Walmart's Warehouses| date=December 13, 2021| work =Forbes}}
In July 2021, Walmart began introducing Symbotic robots to 25 additional regional distribution centers.{{cite web | url =https://www.bostonglobe.com/2021/07/14/business/walmart-signs-with-local-robot-maker-automate-distribution-centers/|title =Walmart signs on with local robot maker to automated distribution centers| date=July 14, 2021| publisher =Boston Globe}}
In December 2021, the company announced it was going public through a merger with SVF Investment Corp. 3, a special-purpose acquisition company sponsored by an affiliate of SoftBank Investment Advisers.{{cite web | url =https://www.therobotreport.com/symbotic-going-public-via-softbank-spac/|title =Symbotic going public via Softbank SPAC| date=December 14, 2021| publisher =The Robot Report}}
Products and services
References
{{reflist}}
External links
- {{Official website|https://www.symbotic.com}}
{{Finance links
| name = Symbotic Inc.
| symbol = SYM
| sec_cik = 1837240
| yahoo = SYM
| google = SYM:NASDAQ
}}
{{Robotics}}
Category:Robotics companies of the United States
Category:Companies based in Wilmington, Massachusetts
Category:Companies listed on the Nasdaq
Category:Technology companies established in 2007