Bengaluru: Gurgaon-based warehouse automation startup, Grey Orange Robotics raises Rs.191.6 crore ($30 million) in a Series B round of funding led by its existing investor, Tiger Global Management along with Blume Ventures. The funding will be utilized to develop new products across Asia Pacific, Middle East and Europe.
Founded in 2011 by BITS alumni – Samay Kohli and Akash Gupta, Grey Orange is a fast-growing, venture-backed technology startup that generates hardware and software products for warehousing industry. Today, the company’s disruptive high-tech products are revolutionizing the conventional managed logistics and distribution centres by solving operational inefficiencies and increasing productivity. Currently focusing on products for logistics fulfilment, the firm has more than 300 employees and offices in Hong Kong, Gurgaon, Mumbai, Delhi, Bengaluru and Hyderabad.
Expanding its reach, the firm claims to have over 90 percent market share of India’s warehouse automation market and has clients including, Flipkart, Amazon India, Jabong, Delhivery, GoJavas, Aramex, DTDC and Kerry Logistics. On the other hand, the firm had raised Rs.54 crore in Series A round from Tiger Global Management LLC and Blume Ventures Fund I. The firm likewise raised an undisclosed amount from Blume Ventures, BITS Sparks Angels and few other angels on January 2014.