Simbe Robotics Leverages Cloud Manufacturing to Modernize Traditional Supply Chain Solutions

Rhea-AI Summary

Fast Radius (Nasdaq: FSRD) has partnered with Simbe Robotics to enhance production capabilities amidst supply chain disruptions. Utilizing Fast Radius’ Cloud Manufacturing Platform™, Simbe aims to manufacture key components for its Tally 3 robot, facilitating quicker market entry. The partnership has allowed Simbe to deploy nearly 200 robots globally and save over $30,000 in engineering costs. Simbe's Tally 3 improves retail productivity by analyzing inventory data. This collaboration supports their strategy to maintain flexibility in manufacturing and adapt to evolving consumer demands.

Positive

• Successfully deployed nearly 200 Tally 3 robots globally.
• Saved over $30,000 in engineering costs through partnership.
• Enabled quick production scaling to meet rising retail demands.

Negative

• None.

Cutting-edge retail AI and data analytics startup Simbe Robotics partners with Fast Radius through its Cloud Manufacturing Platform™ to circumvent current supply chain disruptions, scale production, and meet rising demand

CHICAGO, July 13, 2022 (GLOBE NEWSWIRE) -- Fast Radius (Nasdaq: FSRD), a cloud manufacturing and digital supply chain company, has partnered with Simbe Robotics to manufacture components critical to the function and aesthetics of their advanced inventory robot, Tally 3. Simbe has reimagined the possibilities of automation to create new efficiencies in retail stores and selected Fast Radius’ Cloud Manufacturing Platform™ because of its ability to bypass current supply chain disruptions through flexible production. This results in faster time to market versus traditional manufacturing processes and helps the business scale.

Tally 3, Simbe’s flagship robot, is an autonomous retail intelligence robot that drives productivity and customer satisfaction by collecting and analyzing inventory data in retail environments, such as the shelf-stocking needs of grocery stores. Deterred by the heavy startup costs of injection molding parts, Simbe needed to achieve precise results from less expensive manufacturing methods – namely urethane casting – in order to quickly expand their fleet of robots and meet growing demand from retailers.

“Given the current and sustained supply chain disruptions felt across industries, when we were looking to accelerate production of our Tally robots, it was critical for us to find a partner who could keep costs low while delivering on the quality and durability that you typically only get from high-volume manufacturing,” said Owen Davies, Director of Hardware Engineering at Simbe Robotics. “Working with Fast Radius, we’ve been able to deploy nearly 200 robots globally with industrial-grade quality, all while staying agile enough to continue innovating. Having a flexible and reliable supply chain through Fast Radius has helped us grow our business and widely distribute Tally robots.”

Through their partnership with Fast Radius, Simbe has saved more than $30,000 in engineering costs and maintained the flexibility to refine and change designs as needed to accommodate evolving product requirements and new sensor technology. This nimble working relationship has enabled Simbe to retain a lean manufacturing strategy to adapt and grow with changing business needs.

“The robotics industry is a uniquely innovative space, and Simbe is positioned to revolutionize how work is done with robots that automate tasks to increase productivity and accuracy,” said Bobby Bott, EVP of Manufacturing at Fast Radius. “We’re excited to support businesses like Simbe that are bringing these advanced robots to the market and to enable their growth through our Cloud Manufacturing Platform.”

Simbe is one of many recognizable customers, such as Rawlings, Steelcase, and Curtiss, that are leveraging Fast Radius’ Cloud Manufacturing Platform to design and produce industrial-grade parts and bring new products to market.

ABOUT FAST RADIUS
Fast Radius, Inc. (Nasdaq: FSRD) is a leading cloud manufacturing and digital supply chain company. The Cloud Manufacturing Platform™ from Fast Radius is a first-of-its-kind solution that integrates design, production, and fulfillment operations through a common digital infrastructure to make manufacturing easier, more accessible, and more sustainable. Founded in 2017, Fast Radius, Inc. is headquartered in Chicago with offices in Atlanta, Louisville, and Singapore and micro-factories in Chicago and at the UPS Worldport facility in Louisville, KY.

ABOUT SIMBE ROBOTICS
Simbe Robotics is the global leader in automation solutions that give retailers unprecedented visibility and insight into the state of their store environments, while improving inventory and operational challenges. Simbe is a privately held, venture-backed company headquartered in San Francisco, CA and works with major worldwide retailers and brands across the US, Europe and Asia. For more information, visit www.simberobotics.com or follow the company at @simberobotics.

CONTACT
Kelly Smith
MSL U.S.
Kelly.smith@mslgroup.com; 646-500-7654

FAQ

What recent partnership has Fast Radius announced?

Fast Radius has partnered with Simbe Robotics to manufacture components for the Tally 3 robot.

How has the partnership with Simbe Robotics impacted Fast Radius?

The partnership has enabled Fast Radius to showcase its Cloud Manufacturing Platform™ to help overcome supply chain challenges.

What is the significance of the Tally 3 robot?

Tally 3 is an autonomous robot that enhances retail productivity by analyzing inventory data.

How much has Simbe saved in engineering costs through its partnership with Fast Radius?

Simbe has saved more than $30,000 in engineering costs.

What is the stock symbol for Fast Radius?

The stock symbol for Fast Radius is FSRD.