GreyOrange, a Singapore based developer of AI-powered robotics systems for flexible automation across fulfillment centers in supply chain, raised US$140m in Series C funding.
The round was led by Mithril Capital, co-founded by Ajay Royan and Peter Thiel, with participation from Binny Bansal and other existing investors Blume Ventures. In conjunction with the funding, Ajay Royan, Co-Founder and Managing General Partner of Mithril Capital, will join the GreyOrange board.
The company intends to use the funds to accelerate its US expansion and to develop the next generation of flexible supply chain systems.
Founded in 2011 by Samay Kohli and Akash Gupta, GreyOrange designs, manufactures and deploys advanced robotics systems for automation in distribution and fulfillment centers. Through the use of flexible automation, AI and customer service, the company works closely with businesses to recognize their needs, optimize the supply chain and enhance process efficiency.
Its main solutions include:
– The goods-to-person Butler™, an AI-enabled autonomous robot, optimizes the supply chain process from inventory storage and replenishment to order picking, and
– The Butler PickPal™ combines AI and Machine Vision to work in tandem with the Butler to accelerate multi-fold the pick process in fulfillment centers.
The GreyOrange Butler robotics solutions have been contracted for many new sites in Asia, Europe and the U.S. for customers in third party logistics, e-commerce, consumer electronics, fashion and fast-moving consumer goods (FMCG), among other industries.
The company has offices in India, Japan, Germany and the U.S. (Atlanta, Georgia, and Boston, Massachusetts).
FinSMEs
06/09/2018