Zoom Systems Announces $10 Million Financing to Fuel Automated Retail Expansion

"Zoom Systems announced today it has closed a $10 million Series C financing round led by Goldman, Sachs & Co. that will speed deployment of the company's network of 40 square foot robotic stores that place iconic brands and high demand products directly in the path of consumers.
The company's 'state-of-the-art' robotic stores are located in high
traffic areas and use technology to provide consumers simplicity, speed and
easy access to popular brand products. Leading consumer product brands can
sell their latest products through Zoom Systems' channel to generate
incremental revenues, powerful branding and perfect execution of their
brand strategy. Shoppers select products via an easy to use touch screen
graphic interface, finalize purchases with a credit or debit card and
receive products immediately via a robotic arm. All of Zoom Systems'
robotic stores are networked and centrally monitored, ensuring high
reliability and customer service levels."
"Sierra Ventures and NeoCarta Ventures led earlier rounds of financing
for Zoom. Jeff Loomans and David Schwab of Sierra and Peg Jackson of
NeoCarta serve on the board; Ram Venkateswaran of Goldman Sachs will now
serve on the board. Also participating in the round was Zoom Systems'
Chairman of the Board, Bruce Quinnell, former Vice Chairman, President, and
COO of leading retailer Borders Group."
"Zoom Systems' executive management team, board of directors and
advisors all have extensive retail backgrounds at leading brands that
include Target, LVMH Moet Hennessey Louis Vuitton, and Bank of America."