GreyOrange Inc. recently announced the first close of its Series D funding, securing $135 million. Led by Anthelion Capital (formerly Cowen Sustainable Investments), the Atlanta-based company plans to use the investment to reinforce its approach to transforming warehouse and retail store operations through a hardware-agnostic software platform and a dynamic range of certified robotic and sensing technologies.
“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 GreyOrange co-founder and CEO Akash Gupta.
GreyOrange will deploy the growth capital to accelerate the company’s technology leadership, continue its global expansion and further support the adoption of its fulfillment orchestration platform in warehouses, distribution centers and retail stores.
GreyOrange in the supply chain automation space
“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.
GreyOrange also said that the recent financing underscores a vote from existing investors such as Mithril, 3State Ventures, and Blume Ventures.
“GreyOrange’s thoughtful implementation of their pioneering technology has earned the trust of the world’s largest retailers and logistics partners,” said Ajay Royan, Founder and Managing General Partner of Mithril Capital.“GreyOrange is leading a major shift in productivity, safety, and novel forms of convenience that will benefit hundreds of millions of consumers.”
Warehouse automation usage expected to grow
According to the 2023 Gartner Hype Cycle for Supply Chain Execution Technologies report
, “by 2027, over 75% of companies will have adopted some form of cyber-physical automation within their warehouse operations.” The report also details that, “As companies expand their use of robotics, most will eventually have heterogeneous fleets of robots from different vendors performing various tasks, which will require standardized software that can easily integrate to a variety of agents and robot platforms.”
GreyOrange belives the overall growth in the warehouse automation sector, combined with the influx of capital, will offer a strong boost to the company.
“This Series D funding amplifies our commitment to leadership within the AI and robotics orchestration space and affirms our thought leadership within this market,” Gupta said.
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