As the first investors in GreyOrange, and in every subsequent round, we are pleased to share that the warehousing automation and robotics startup has raised $140 million as part of its series C funding. Through these past 6 years, Blume has seen the company transform the logistics sector with its AI-enabled autonomous systems spearheaded by the Butler and Sorter families of products. GreyOrange bots power warehouses from Chile to Tokyo and from Coimbatore to Berlin.
While customers took notice and deployment has accelerated every year, investors who understood the potential of the business and the leadership were scarce. We see this milestone as an incredible validation of Indian engineering capabilities building world-class products not just in software, but in the most sophisticated and complex of products. Blume has been a believer all through and we think GreyOrange will build to a successful IPO and multi-$100 million revenue scale very soon.
The $140 million round was led by Silicon Valley-based Mithril Capital, Flipkart co-founder Binny Bansal along with participation from Blume and a handful of new investors including Mitsubishi and Project Verte.
Ajay Royan, Co-Founder, and Partner at Mithril Capital will join the GreyOrange board, as will Binny Bansal.
The new round will help GreyOrange to expand its operations across Asia, Europe, and the U.S. GreyOrange also just announced its new US headquarters and manufacturing facility in Atlanta, hired its head for the US business and launched a major R&D center in Boston.
Founded in 2011 by Samay Kohli and Akash Gupta, GreyOrange is the global leader in AI-powered robotics systems for flexible automation across fulfillment centers in the supply chain.
Supply chain efficiency is a critical factor in accelerating global trade, and it’s exciting to see a global leader emerge from the Indian shore.