Robotics firm GreyOrange has raised $135 million, marking the first close of its Series-D funding round led by Anthelion Capital with participation from existing investors Mithril, 3State Ventures and Blume Ventures.
The start-up will deploy the fresh proceeds to scale up its technology leadership, expansion and bolster adoption of its fulfilment orchestration platform in warehouses, distribution centres and retail stores.
Founded by Akash Gupta and Samay Kohli in 2012, GreyOrange specialises in designing, manufacturing, and deploying AI-robotic systems for automating routine tasks in warehouses and fulfilment centres for major ecommerce and retail companies.
With manufacturing units in India, China, and the US, and research and development facilities in various countries, including India, the company claims to have played a crucial role in managing warehousing operations for Indian companies like Flipkart, Myntra, Pepperfry, Mahindra Tractors and others.
Customer-centric
“As we scale our technology and enhance customer experiences and operational efficiency, we recognise that keeping the needs of our customers at the centre of our product and solution roadmap has proven essential for our customer’s success, as well as our own,” said Gupta.
“Not only has GreyOrange automated the movement of goods within the warehouse, but the company has also built a network that optimises how retailers move their goods across their entire supply chain,” said Vusal Najafov, cofounder of Anthelion Capital.
GreyOrange’s latest funding round comes one year after the firm raised $110 million in growth financing. A major portion of the infusion came from its existing investor Mithril Capital Management, along with new investors.
So far, the company has raised close to $425 million in total funding.
As per the 2023 Gartner Hype Cycle for Supply Chain Execution Technologies report, by 2027, more than 75 per cent of companies are expected to integrate some form of cyber-physical automation into their warehouse operations.
The Gartner report notes that as more and more companies are stepping up to employ robotics, they will likely manage diverse robot fleets from different vendors. This calls for standardised software for seamless integration, efficient task assignment and communication with other automation types like door or elevator controls.