Saturday, June 15, 2024

GreyOrange Secures $135 Million in Series D Funding Round

GreyOrange announced a partnership with Hai Robotics, a global leader in automated storage and retrieval systems (ASRS).

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GreyOrange, a pioneering provider of automated robotic fulfillment and inventory optimisation solutions, has successfully secured an impressive $135 million in the first phase of its Series D funding round. This milestone was achieved with the support of Anthelion Capital, leading the investment, and significant participation from existing backers, including Mithril, 3State Ventures, and Blume Ventures.

Continued Momentum: Building on May 2022 Success

This latest funding injection follows GreyOrange’s notable success in May 2022, where it raised $110 million in a funding round led by Mithril Capital.

Strategic Allocation: Fuelling Technological Leadership and Global Expansion

The substantial capital infusion is earmarked for accelerating GreyOrange’s technological leadership, fostering global expansion, and driving the widespread adoption of its cutting-edge fulfillment orchestration platform in warehouses, distribution centres, and retail establishments.

Impressive Traction: Total Funding Surpasses $420 Million

With a total funding surpassing an impressive $420 million, GreyOrange continues to make waves in the industry, although the current valuation remains undisclosed.

Founders’ Vision: Akash Gupta and Samay Kohli’s Innovation Journey

Founded by Akash Gupta and Samay Kohli, GreyOrange stands out for its AI-based robotic systems designed to automate routine tasks in the warehouses and fulfillment centres of major e-commerce and retail giants.

Competitive Edge: GreyOrange Solutions Transforming Industries

GreyOrange’s solutions offer a competitive advantage by boosting productivity, enabling growth and scalability, addressing labour challenges, reducing risks and time-to-market, and ultimately creating superior experiences for customers and employees.

Global Footprint: Manufacturing Units and R&D Facilities Worldwide

Backed by Tiger Global, GreyOrange operates manufacturing units in India, China, and the U.S., with research and development facilities strategically located across various countries, including India.

Strategic Alliance: GreyOrange Partners with Hai Robotics

In a recent strategic move, GreyOrange announced a partnership with Hai Robotics, a global leader in automated storage and retrieval systems (ASRS). This collaboration aims to enhance adaptability to fluctuations in demand and dynamic shifts in consumer behaviour.

IPO Watch: 2021 Evaluation and Current Developments

While the company had been evaluating an initial public offering (IPO) in the United States in 2021, the latest communication from GreyOrange did not provide any updates on the IPO plan. Stay tuned for more exciting developments from this industry trailblazer!

The Indian Bugle
The Indian Buglehttps://theindianbugle.com
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