Robotics firm GreyOrange raises $30 million, to expand overseas

GreyOrange, a robotics firm that is in the business of automating warehouses, has raised $30 million (Rs 191.6 crore) in a round led by Tiger Global Management, with participation from existing investors Blume Ventures.
The funding, which the company says is one of the largest for robotics company globally, will be used to invest in developing new products, expand internationally into Asia Pacific, Middle East and Europe. The company says it has a 90% market share of India's warehouse automation market and it powers over 180,000 square feet of warehouse.
"We are doubling our team size globally as we steer the company and our products beyond India and into international markets," said co-founder and CEO Samay Kohli, who founded the company with Akash Gupta in 2011.
The company has two products: The Sorter and the Butler. The former is a high-speed system that consolidates orders and routes parcels. By Diwali, the company will have installed sortation capacity of 3 million parcels per day.
The second product, the Butler, is an order-picking system that is tailored for high-volume, high-mix orders characteristic of e-commerce and omni-channel logistics fulfilment.  Cont'd..
 

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

Horner Solutions Group - Overall Equipment Effectiveness (OEE)

Horner Solutions Group - Overall Equipment Effectiveness (OEE)

Horner Solutions Group offers a pre-programmed solution that is fast and easy to implement. No development on the user end, just a simple setup on the touchscreen and you can start monitoring and collecting data in minutes. With the ever-growing need for production data in the industry, we wanted to help bridge the gap for many production companies to be able to start collecting accurate and functional OEE (Overall Equipment Effectiveness) data within just a few minutes of setup, as opposed to the weeks/months many companies spend developing their own solution from scratch. For any customers that may have a need outside of the typical product mold, we also offer engineering services for custom hardware and software solutions of various types.