Symbiotic Inc (SYM)

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Over the past 15 years, Symbotic has developed the next generation of robotics technology. The supply chain industry experiences exponential data growth every year, resulting in increasingly complex distribution challenges. Symbotic solves this problem with its end-to-end robotics solution that is powered by a sophisticated data platform with self-learning software that is flexible to changing conditions, transforming the flow of goods of the supply chain for customers.

"Today marks a significant milestone for Symbotic and its employees, and we are excited to accelerate our growth with a truly disruptive technology platform used by some of the world's largest companies," said Michael J. Loparco, CEO of Symbotic. "Symbotic's long-term partnership with SoftBank and other established investors will allow us to more rapidly scale our operations, introduce new technology innovations, and expand into new markets."

"Our vision at Symbotic has always been to reinvent the supply chain with artificial intelligence and robotics – transforming the distribution network into a strategic asset," said Rick Cohen, Chairman of the Board of Directors and President of Symbotic. "As a leading robotics innovator, I look forward to scaling Symbotic to meet the incredible demands and opportunities of the global supply chain. We are proud to be affiliated with the SoftBank team and are eager to begin this next chapter together."

"What makes Symbotic unique as we go public is our healthy cash balance in addition to the $11-plus billion in committed orders we have from customers," said, Tom Ernst, Chief Financial Officer of Symbotic. "We have positioned ourselves for success in the public market by ensuring long-term operational viability while we grow our people, technology and customer base."