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GreyOrange closes $140 million in Series C funding

New funds enable GreyOrange to accelerate the fulfillment of its vision to develop the next generation of flexible supply chain systems.
BY BEx Bureau
BusinessEx
Sep 07, 2018

GreyOrange, the global leader in AI-powered robotics systems for flexible automation across fulfilment centers in the supply chain, has announced $140 million in Series C funding, marking the largest round ever raised by an industrial robotics company.

Mithril Capital led this round, which included Binny Bansal and other existing investors. They join Mitsubishi, Flipkart, and the Project Verte as investors in the company. Ajay Royan, Co-Founder and Managing General Partner of Mithril Capital, will join the GreyOrange board.

Ajay Royan said, As a global investor focused on emerging category leaders, Mithril is proud to partner with the GreyOrange team to advance our shared vision of a universal platform for flexible automation. As online and offline channels converge across a wide range of industries, we are excited to support robotic solutions.

Binny Bansal, Flipkarts Co-Founder and Group CEO, said, As an entrepreneur myself, I have closely followed how Samay and Akash have built and grown GreyOrange to become an international technology company with customers across the world. I look forward to supporting and witnessing the new phase of their growth.

Founded in 2011 by Samay Kohli and Akash Gupta, GreyOrange is a global technology company headquartered in Singapore. The company operates major Research and Development Centers in India, the U.S. and Singapore.

The new funds will enable GreyOrange to fulfil its vision of developing and deploying intuitive, flexible and scalable solutions for end-to-end automation across the supply chain, from factories to fulfilment centers, and beyond.

Samay Kohli said, We are fortunate to have an experienced management team and investors with a common vision to build the next generation of flexible supply chain systems. Having a veteran board member and strategist like Ajay Royan join the board will help fulfil that vision faster. Fundraising events are important milestones in a companys journey, and for GreyOrange, the funds will allow us to continue to invest in our Research and Development and supply chain to maintain our market-leading position.

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