Blume Ventures backed GreyOrange, a prominent player in AI-driven fulfilment automation has successfully secured $135Mn in its Series D funding round, according to a company press statement. The investment, led by Antheion Capital (formerly Cowen Sustainable Investments), marks a crucial milestone for GreyOrange as it looks to deploy AI towards its warehouse automation ops.
Using trademark technologies such as GreyMatter(dubbed as the brain behind the operations of GreyOrange’s fulfilment platform) and gStore, the robotics company continues to dominate a major share of the warehouse automation market.
Founded in 2011 by Akash Gupta and Samay Kohli with a vision to revolutionize global supply chain automation, GreyOrange has garnered acclaim for its forward-thinking approach and its ability to compel technological shifts in the logistics industry. The company has produced a flexible software platform designed to seamlessly integrate with several hardware setups. On top of that, the software is complemented by hardware with an extensive range of robotic and sensing technologies. The firm boasts a clientele comprising Fortune 500 giants and has demonstrated its ability to orchestrate seamless automation solutions customised to the unique needs of various businesses to attend to the diversity present in the market.
This funding round success isn’t the first stint for the AI-powered robotics company. The automation startup has raised significant capital four times in its eight years of operations. Back in 2020, GreyOrange raised $100 million in Series C funding claiming the title for the largest round raised by an industrial robotics company and got their names scripted in the history books.
GreyOrange plans to use this raised capital to strengthen its technology leadership and expand its already global footprint. Currently, the company has a stronghold in the United States, Singapore, India, Germany and Japan. This funding will allow it to go further along these borders, according to its official press statement. The company’s commitment to customer-centric innovation has been a key factor behind the success of its business. GreyOrange plans to deploy the funds raised with the help of investors such as Anthelion Captial, Mithril, Blume Ventures and others in amplifying its global outreach.
Read more at thetechportal.com
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