Discover how this funding will fuel their journey towards technological leadership, global expansion, and a customer-centric approach, shaping the future of automation and efficiency in the supply chain industry.
GreyOrange Inc. has marked a significant milestone by successfully closing the first round of its Series D funding, securing a substantial $135 million investment. Anthelion Capital, formerly known as Cowen Sustainable Investments, led this funding effort, reaffirming the company’s commitment to revolutionizing warehouse and retail store operations through its hardware-agnostic software platform and a diverse portfolio of certified robotic and sensing technologies. The company’s impressive growth and adoption rates, particularly among Fortune 500 customers, underscore it’s position as a trailblazer in the global supply chain automation arena.
Vusal Najafov, Co-Founder of Anthelion Capital, highlighted the company’s achievements, stating that the company not only automated goods movement within warehouses but also optimized retailers’ supply chain operations on a broader scale. Anthelion Capital’s enthusiasm for leading this funding round stems from the company’s ability to enhance operational efficiency across various settings and its innovative approach to transforming inventory into a more productive asset in both warehousing and retail environments. This successful funding round is also a testament to the unwavering support of existing investors, including Mithril, 3State Ventures, and Blume Ventures, who have continued to champion the company’s mission.
The injection of growth capital will be pivotal in further enhancing the company’s technological leadership, expanding its global presence, and facilitating the adoption of the company’s fulfillment orchestration platform in warehouses, distribution centers, and retail stores worldwide. Akash Gupta, Co-Founder and CEO of GreyOrange, emphasized the company’s customer-centric approach as a cornerstone of its success. He expressed their commitment to leadership in the AI and robotics orchestration space and their dedication to driving thought leadership within this evolving market.
Ajay Royan, Founder and Managing General Partner of Mithril Capital, lauded GreyOrange’s technical and commercial advancements, recognizing the company’s pivotal role in bringing game-changing automation and productivity to the retail sector. The company’s innovative technology implementation has earned the trust of some of the world’s largest retailers and logistics partners, marking a major shift in productivity, safety, and convenience for consumers.
The company’s bright future is reinforced by the growth observed in the warehouse automation sector. According to the 2023 Gartner Hype Cycle for Supply Chain Execution Technologies report, a significant majority of companies are expected to adopt some form of cyber-physical automation within their warehouse operations by 2027. This shift will entail heterogeneous fleets of robots from various vendors, demanding standardized software that seamlessly integrates with different agents and robot platforms, assigning tasks efficiently and coordinating with other automation systems, such as door or elevator controls. The company is poised to play a pivotal role in this transformative journey, leveraging its expertise to drive efficiency and innovation in the supply chain automation landscape.
