Below is a press release from Symbotic, which is headquartered in Wilmington:
WILMINGTON, MA — Symbotic LLC, a revolutionary A.I.-powered supply chain technology company, and Walmart Inc. announced an expanded commercial agreement to implement Symbotic’s robotics and software automation platform in all 42 of Walmart’s regional distribution centers over the coming years. This is an expansion of Walmart’s prior commitment to deploy Symbotic Systems in 25 regional distribution centers.
The end-to-end software-enabled high-density robotics platform plays a strategic role in supporting the retailer’s goal of modernizing its vast supply chain network and allows Walmart to transform its regional distribution centers to provide faster responsiveness to store orders, increased inventory accuracy and higher capacity for receiving and shipping freight to stores. The technology’s ability to build palletized loads of department-sorted inventory ultimately enables Walmart to get products onto shelves at its more than 4,700 stores more quickly, while also making one of the toughest aspects of supply chain work – material handling – safer and simpler. It also creates new, tech-enabled jobs, such as cell operator and maintenance technician, that offer widely applicable skills in robotics and technology.
“The expanded partnership with Walmart substantiates how our technology is truly reinventing the traditional warehouse and distribution of consumer goods across the supply chain,” said Rick Cohen, Chairman, President and Chief Product Officer of Symbotic. “As a technology platform with deep roots in warehousing and distribution – our system addresses some of the biggest challenges of today’s complex supply chain, such as inventory agility, transportation cost and labor availability. Modernizing the warehouse allows consumers to get what they need faster and creates benefits for everyone including workers, customers and their local communities.”
“The need for accuracy and speed in the supply chain has never been more visible, and we’re confident that now is the time to move even faster by scaling Symbotic’s technology to our entire regional distribution center network,” said David Guggina, Senior Vice President of Innovation and Automation, Walmart U.S. “Using high-speed robotics and intelligent software to organize and optimize inventory, the Symbotic System helps us get products to our customers quickly and seamlessly by revolutionizing how we receive and distribute products to stores.”
Walmart has already begun embedding Symbotic’s technology in select regional distribution centers throughout its network. The retrofitting process of all 42 regional distribution centers is expected to be completed over the next 8+ years.
The Symbotic System
The Symbotic System is a first-of-a-kind automation technology platform with a wide range of business use cases. The company reinvented the traditional warehouse with an end-to-end system powered by a fleet of fully autonomous robots and A.I.-powered software. Combined with a unique high-density physical structure the system improves efficiency, accuracy and agility while reducing costs. Intelligent Symbotic software orchestrates a team of robots to receive, store and retrieve a virtually limitless number of SKUs. Using proprietary end-of-arm tools and vision systems to output cases, totes and packages at industry-leading speeds.
For more information about the partnership, please refer to this article from Walmart: Chain Reaction: We’re Partnering with Symbotic to Bring High-Tech Automation to Our Supply Chain.
Symbotic has previously announced its entry into a business combination agreement with SVF Investment Corp. 3 (NASDAQ: SVFC), a special purpose acquisition company (SPAC), that is expected to make Symbotic a public company listed on Nasdaq. In connection with the proposed business combination, SVF filed a registration statement on Form S-4 with the SEC (File No. 333-262529) (as amended, the “Registration Statement”), which was declared effective by the SEC on May 9, 2022, and also filed a final proxy statement and prospectus of SVF on May 9, 2022 (the “Final Proxy Statement/Prospectus”).
Symbotic is an automation technology leader reimagining the supply chain with its end-to-end, AI-powered robotic and software platform. Symbotic reinvents the warehouse as a strategic asset for the world’s largest retail, wholesale, and food & beverage companies. Applying next-gen technology, high-density storage and machine learning to solve today’s complex distribution challenges, Symbotic enables companies to move goods with unmatched speed, agility, accuracy and efficiency. As the backbone of commerce Symbotic transforms the flow of goods and the economics of the supply chain for its customers. For more information, visit www.symbotic.com.