European start-up Bobnet, backed by NCH Capital, has announced a series B EUR50 million ($52.6 million) funding round, to address current challenges faced by major retail chains.

 

Bobnet has already secured EUR15 million in previous investments and is now seeking an additional EUR50 million to expand its solutions to the Middle East, as part of the company's global expansion, as the region's retail industry is fast developing and embracing technological innovations.

 

A leading innovator in retail technology solutions, Bobnet Group, will make its latest regional expansion announcement at this year's Gitex Global in Dubai from October 16, where the company is set to showcase its cutting-edge retail innovation products and unveil its recent milestones. 

 

Chain Management System

The company has developed a breakthrough digital Chain Management System aimed at streamlining operations in the retail sector, and this new investment will enable them to offer their solutions on a global scale.

 

The Bobnet venture startup has been working since 2018 on a series of hardware and software automation solutions, developed to overcome problems of implementing and managing large retail chains. 

 

The company has succeeded in creating a chain of 120 automated selling food and grocery free checkout machines placed in a real- life use case market, whilst testing and optimising its advanced hardware and software solutions, to create a fully functional management system of such retail chains.

 

"The Bobnet Chain Management system is the first software on the market able to conduct by itself operations for retail chains with thousands and millions of sales and logistic units, which are able to communicate with a cloud-based infrastructure through IoT means. Thus, with our technology, creating a live physical retail chain, which is scattered in space and still operates as a single body in a fully automated mode, is now possible by almost fully eliminating the need for human involvement in the process," explains Victor Popusoi, Bobnet's founder.--TradeArabia News Service