Warehouse robotics startup raises record funds
The new funds, says the company, will enable it to accelerate the fulfillment of its vision to develop the next generation of flexible and scalable solutions for end-to-end automation across the supply chain – from factories to fulfillment centers, and beyond. The company says it plans to expand operations across Asia, Europe, and the U.S., and recently established its U.S. headquarters and manufacturing facility in Atlanta, Georgia, and launched a major R&D center in Boston, Massachusetts.
“GreyOrange offers robotics technology for operating flexible automated warehouses and has the largest market share globally in this space,” says Samay Kohli, Co-Founder and CEO, GreyOrange. “We’ve grown rapidly in recent years and will accelerate the expansion of our regional teams, especially within the U.S.”
“We strongly believe in thinking global but operating local,” says Kohli. “As we continue to invest heavily in the R&D of our products, we will solve new problems for our customers and help transform the industry.”
According to the company, its Butler robotics solutions, using an AI-first approach, 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 goods-to-person Butler AI-enabled autonomous robot is designed to optimize the supply chain process from inventory storage and replenishment to order picking. The Butler PickPal combines AI and machine vision for automated fulfillment, working in tandem with the Butler to accelerate the pick process in fulfillment centers.
The funding round was led by Mithril Capital, co-founded by Ajay Royan and Peter Thiel, and included Binny Bansal and other existing investors including Blume Ventures. They join Mitsubishi, Flipkart, and the Project Verte as investors in the company.
Ajay Royan of Mithril Capital, who will be joining the GreyOrange board, adds, “As a global investor focused on emerging category leaders, Mithril is proud to partner with the GreyOrange team to advance our shared vision of a universal platform for flexible automation. As online and offline channels converge across a wide range of industries, we are excited to support robotic solutions that thoughtfully bridge the world of bits and the world of atoms, driving better health, safety, and efficiency for workers and customers alike.”
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