Robotics company GreyOrange raises $135 Mn in Series D

GreyOrange, an automated robotic fulfillment and inventory optimization software, has raised $135 million in the first close of its Series D funding round led by Anthelion Capital. Existing investors such as Mithril, 3State Ventures, and Blume Ventures also participated in the round.

In May 2022,  GreyOrange raised $110 million led by Mithril Capital.

GreyOrange will deploy the fresh capital to accelerate the company’s technology leadership, global expansion, and further support the adoption of GreyOrange’s fulfillment orchestration platform in warehouses, distribution centers, and retail stores.

So far, GreyOrange has raised over $420 million. However, the firm did not disclose its valuation.

Founded by Akash Gupta and Samay Kohli, GreyOrange designs, manufactures, and deploys AI-based robotic systems that can automate routine tasks at warehouses and fulfillment centres of large e-commerce and retail firms.

The company’s solutions offer a competitive advantage by increasing productivity, empowering growth and scale, mitigating labor challenges, reducing risk and time to market, and creating better experiences for customers and employees.

The Tiger Global-backed firm has manufacturing units in India, China, and the U.S., with R&D units in different countries including India.

Recently, GreyOrange announced its strategic partnership with Hai Robotics, a global company for automated storage and retrieval systems (ASRS). The partnership will provide the ability to adapt to surges in demand and the ever-evolving consumer behavior.

Reliance-backed Addverb Technologies is one of alternatives for GreyOrange in India.

During 2021, the company was evaluating an initial public offering in the US. However, the company’s latest release did not mention anything on the IPO plan.