- Blume backed AI-Driven Warehouse and Retail Automation Leader GreyOrange Closes on $135M Growth Financing
- Funding will further accelerate GreyOrange’s growth and industry defining leadership in automation within the warehouse fulfillment and retail markets
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.
GreyOrange will deploy 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."
“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.”
The overall growth seen in the warehouse automation sector will continue to be a strong tailwind for GreyOrange. According to the 2023 Gartner Hype Cycle™ for Supply Chain Execution Technologies report, “by 2027, over 75% of companies will have adopted some form of cyber-physical automation within their warehouse operations.”
The Gartner report also details that, “As companies expand their use of robotics, most will eventually have heterogeneous fleets of robots from different vendors performing various tasks, which will require standardized software that can easily integrate to a variety of agents and robot platforms. These solutions will assign work to the right robots based on the characteristics of immediate and prioritized tasks and communicate with other types of automation (agents) like door or elevator controls.”
1. Gartner, Hype Cycle for Supply Chain Execution Technologies, 2023, Dwight Klappich; 13 July 2023.
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GreyOrange is at the forefront of AI-driven robotics systems, transforming distribution and fulfillment centers worldwide. Its emphasis on orchestration, innovation, and customer satisfaction marks a new era in efficient, responsive supply chain solutions. 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. Founded in 2012, GreyOrange is headquartered in Atlanta, Georgia, with offices and partners across the Americas, Europe, and Asia. For more information, visit www.greyorange.com.
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