Warehouse Robotics Startup GreyOrange Raises $135M in Series D funding The capital will be deployed to accelerate the company's technology leadership, continue its global expansion, and further support the adoption of GreyOrange's fulfillment orchestration platform in warehouses, distribution centers, and retail stores.
By Priya Kapoor
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GreyOrange Inc., a leader in AI-driven fulfillment automation, has secured $135 million in the first close of its Series D funding. The investment led by Anthelion Capital (formerly Cowen Sustainable Investments), reinforces GreyOrange's innovative approach to transforming warehouse and retail store operations through a hardware-agnostic software platform and a dynamic range of certified robotic and sensing technologies.
Founded by Akash Gupta and Samay Kohli, it raised $110 million in May 2023, led by Mithril Capital.
The company will be deploying the growth capital to accelerate the company's technology leadership, continue its global expansion, and further support the adoption of GreyOrange's fulfillment orchestration platform in warehouses, distribution centers, and retail stores.
"As we scale our technology and enhance customer experiences and operational efficiency, we recognize that keeping the needs of our customers at the center of our product and solution roadmap has proven essential for our customers' success, as well as our own," said Akash Gupta, Co-Founder and CEO, GreyOrange. "This Series D funding amplifies our commitment to leadership within the AI and robotics orchestration space and affirms our thought leadership within this market."
GreyOrange's latest funding round also reflects a strong vote of confidence from existing investors such as Mithril, 3State Ventures, and Blume Ventures. Their continued support, coupled with significant capital from previous rounds, underscores their unwavering commitment to GreyOrange.
"GreyOrange is one of India's proudest deep tech exports and despite a massive shift in how warehouse automation is being adopted in the US, GreyOrange is nimbly shifting its business model for the best of Fortune500 retail and commerce companies and winning market share and confidence. We think it can be the first billion $ revenue company in deep tech from India and are proud to further back GreyOrange's growth aspirations, along with our existing partners and new investor Anthelion," said Karthik Reddy, Blume Ventures.
"Not only has GreyOrange automated the movement of goods within the warehouse, but the company has also built a network that optimizes how retailers move their goods across their entire supply chain," said Vusal Najafov, Co-Founder, Anthelion Capital. "Their capability to improve operational efficiency in various settings and their innovative approach in transforming inventory into a more productive asset in warehouses and retail spaces are key reasons for our excitement in leading this funding round".
"GreyOrange's technical and commercial advances reinforce our shared mission to bring game changing automation and productivity to retail," said Ajay Royan, Founder and Managing General Partner of Mithril Capital. "GreyOrange's thoughtful implementation of their pioneering technology has earned the trust of the world's largest retailers and logistics partners. GreyOrange is leading a major shift in productivity, safety, and novel forms of convenience that will benefit hundreds of millions of consumers."
