GreyOrange Inc., an AI-driven fulfillment automation startup, today announced the first close of its Series D funding round, after raising $135 million.
What is the purpose of fundraising?
GreyOrange said it will deploy the growth capital to accelerate the company’s technology leadership, continue its global expansion, and further support the adoption of its fulfilment orchestration platform in warehouses, distribution centres, and retail stores.
What does GreyOrange do?
Founded in 2012 by Akash Gupta and Samay Kohli, GreyOrange is at the forefront of AI-driven robotics systems, transforming distribution and fulfilment centres worldwide. The startup manufactures and deploys AI-based robotic systems that can automate routine tasks at warehouses and fulfilment centres of large e-commerce and retail firms.
While the company is headquartered in Atlanta, Georgia, It also has offices and partners across the Americas, Europe, and Asia.
“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.
What do the investors say about GreyOrange?
“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," Najafov added.
Impact on the warehouse automation sector
The warehouse automation sector, where GreyOrange is a key player, is poised for continued growth. The 2023 Gartner Hype Cycle for Supply Chain Execution Technologies report predicts that by 2027, over 75% of companies will have adopted cyber-physical automation in their warehouse operations.
The report also suggests a future where heterogeneous robot fleets from different vendors will require standardized software for integration, a domain where GreyOrange's solutions could play a significant role.
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