GreyOrange, a trailblazer in automated robotic fulfilment and inventory optimization software, has successfully raised a substantial $135 million in the first phase of its Series D funding round. Anthelion Capital spearheaded the investment, with continued support from existing backers, including Mithril, 3State Ventures, and Blume Ventures.
This latest infusion of capital follows the $110 million funding round in May 2022, led by Mithril Capital, bringing GreyOrange’s total funding to an impressive $420 million. While the company has not disclosed its current valuation, the funds will propel GreyOrange to new heights.
The primary allocation of this capital injection is earmarked for reinforcing GreyOrange’s technological prowess, fueling global expansion initiatives, and fortifying the widespread adoption of its fulfilment orchestration platform across warehouses, distribution centres, and retail establishments.
Akash Gupta and Samay Kohli founded GreyOrange, specialising in designing, manufacturing, and deploying AI-based robotic systems. These systems automate routine tasks in warehouses and fulfilment centres for major e-commerce and retail entities. GreyOrange’s solutions provide a competitive edge by enhancing productivity, facilitating growth, overcoming labour challenges, reducing time to market, and delivering superior experiences for both customers and employees.
Backed by Tiger Global, GreyOrange operates manufacturing units in India, China, and the U.S., along with research and development facilities in various countries, including India.
GreyOrange’s strategic partnership with Hai Robotics, a global leader in automated storage and retrieval systems (ASRS), is a noteworthy recent development. This collaboration is poised to equip GreyOrange with the agility to adapt to demand surges and evolving consumer behaviours.
In the Indian market, GreyOrange faces competition from Reliance-backed Addverb Technologies, signalling a dynamic landscape for robotic automation in the country.
While speculation circulated in 2021 about GreyOrange exploring an initial public offering (IPO) in the U.S., the latest announcement has not updated the company’s IPO plans. Nonetheless, with the recent injection of funds and strategic partnerships, GreyOrange seems poised to redefine the landscape of robotic automation on a global scale.
