Symbotic made its debut on the NASDAQ today under ticker symbol “SYM” after completing its business combination with SVF Investment Corp. 3.
Symbotic’s partnership with Walmart was announced in July 2021, when Walmart planned to Symbotic’s system in 25 distribution centers.
The transaction will deliver up to $725 million of primary gross proceeds for Symbotic. The deal values Symbotic at $4.8 billion.
Walmart partners with Symbotic to deploy automation that improves the throughput of regional Walmart distribution centers.
Distribution centers (DCs) are massive warehouses that receive, inspect and store goods for later picking, packing and shipping to end-users, re-distributors or retail outlets. Products can be everything from books, pharmacy goods, clothing, office goods, food, drinks, shoes, produce, household items and pet supplies to diapers. And quantities can be one or two individual units…