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

IDS NXT - Novel Vision app-based sensors and cameras

IDS NXT - Novel Vision app-based sensors and cameras

App Your Sensor®! What would smartphones be without apps? They would be mobile phones that can't do much more than make phone calls and sending SMS. Apps turn smartphones into intelligent assistants with any number of different tasks. Transferred into the world of image processing, this app-based approach transforms cameras and sensors into customised, smart vision sensors.